3 Companies Heading into Blockchain Related Ventures

In the recent years, new popular trends such as cryptocurrencies, non-fungible tokens (“NFT”) and even the metaverse have been in the spotlight. This resulted in a lot of interest and adoption across the globe.

As a result, this prompted some listed companies to enter this new space and ride on this wave. With that in mind, here are 3 companies that have jumped into this latest bandwagon:

• Hatten Land Limited (SGX: PH0)
• VCPlus Limited (SGX: 43E)
• Vividthree Holdings Limited (SGX: OMK)

1) Hatten Land Limited (SGX: PH0)

Hatten Land Limited (“Hatten Land”) is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments.

Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education.

Key Statistics

Exclusive Framework Agreement with EnjinStarter

In the press release dated 7th October 2021, Hatten Land has announced that the company has signed an agreement with EnjinStarter to develop a dedicated token system, and create digital assets, including nonfungible tokens (“NFTs”), to promote the development of a digital economy in Melaka where it has substantial hospitality and retail assets.

Under the Agreement, both companies will collaborate to develop in a Metaverse, starting with a digital ‘twincity’ for Melaka (“Digital Melaka”) that aims to promote physical and digital tourism of Melaka and accelerate the growth of the city’s digital economy.

This project with EnjinStarter will start mid-October 2021 with delivery of the Token System and the crypto-related elements and/or components connected to the Token System and Metaverse due by end- March 2022.

Joint Venture with Singapore Fintech Group - Hydra X

In the press release dated 1 November 2021, Hatten Land has announced the formation of a joint venture with Singapore Fintech Group – Hydra X to develop and operate Cryptocurrency Exchanges in Singapore and Malaysia Focused on “Green” and “Clean” Cryptocurrencies and Tokens.

The Crypto Exchanges will focus on listing and trading of newly-minted Bitcoins (also known as “Virgin Bitcoins” or “Clean Bitcoins”), eco-friendly BTC wrapper tokens (“Green Bitcoins”), as well as other “green” cryptocurrency, tokens and/or “green” credits.

In addition to operating the exchanges, the joint venture will also generate revenue by providing custody services for the cryptocurrencies and tokens that are being traded.

Shareholder Returns

After announcing the latest business venture, Hatten land has registered more than 220% return to shareholders for the past 3 months.

2) VCPlus Limited (SGX: 43E)

VCPlus Limited (formerly known as Anchor Resources Limited) has diversified into the financial technology and blockchain technology (“FinTech”) business sector. The company’s FinTech business relates to the provision of custodian services for digital assets and the provision of advisory, consultancy and/or management services related to FinTech regulation and licencing as well as the adoption of FinTech strategies and technology.

Key Statistics

Acquistion of APEC Solutions Pte. Ltd.

In the press release dated 27 September 2021, VCPlus Limited announced that it has successfully acquired APEC Solutions Pte. Ltd. For a consideration of S$5 million.

APEC Solutions is a technology consultancy firm that is a one-stop developer and integrator of technology solutions for companies. Its suite of solutions includes blockchain and Fintech solutions development, enterprise software solutions, e-commerce, and digital marketing services. In addition, APEC Solutions also advises companies on licensing and grant requirements and applications in Singapore.

VCPlus Limited mentioned that this is a strategic move to secure and tap onto the expertise, resources, and network of APEC Solutions to accelerate its business growth in the technology consulting space.

Shareholder Returns

Despite the latest venture into the new space, VCPlus’s total shareholder return declined by 4.55% for the past 3 months.

3) Vividthree Holdings Limited (SGX: OMK)

Headquartered in Singapore with subsidiaries in Malaysia and China, Vividthree Holdings Limited ("Vividthree") specialises in Visual Effects ("VFX"), animation and Virtual Reality (“VR”) for content creation and services across the Digital Entertainment and Out-of-Home Entertainment sectors, as well as collaborations in Meetings, Incentives, Conferences, Exhibitions (“MICE”) projects.

Key Statistics

Potential Collaboration with GammaR

In the business update dated 27 October 2021, Vividthree has commenced preliminary discussions with several parties, including but not limited to, GammaR Pte. Ltd. (“GammaR”), to capitalise on popular trends such as blockchain and Non-Fungible Tokens (“NFT”) in the gaming sector.

GammaR is a unique platform that helps NFT game developers bring their innovations to market – it provides them with the resources to develop and monetize their ideas. The company is helmed by a skilled management team from the digital blockchain and gaming industry. Its in-house game development team has more than 10 years of experience, with an established track record in marketing popular mobile games.

The Group is currently in discussions with GammaR on various possible collaboration structures to venture into this space.

Shareholder Return

With the potential collaboration in the horizon, Vividthree’s total shareholder return surged by more than 150% for the past 3 months.

Conclusion

To conclude, these 3 companies are in the limelight for venturing into the blockchain-related trends. If the ventures were to be successful, the economic benefits for the company and shareholders may improve tremendously in the long term.

However, shareholders should stay cautious and take note of the latest developments by the respective companies before investing in them.

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