Recently, Favored, Inc. (OTC PINK:FVRD) provided its shareholders with a corporate status update after an extended period of reduced communications. Since then, they announced last week the beta launch and testing of BitTraderPro.com, a crypto currency exchange and trading platform. Now today, the company is working on Ethereum R&D to integrate it onto BitTraderPro.com.
- Favored, Inc., along with its wholly owned subsidiary Empire Mobile Studios, are at present beta testing Bitcoin on the company’s trading exchange platform. Management believes that Ethereum (“ETH”) has extremely large potential as it grows in use and popularity.
At present, the market cap of Bitcoin is in the $105 Billion range, while Ethereum currently trails behind at a market cap currently in the $29 Billion range. Year to date, Ethereum’s growth is greater than 2,600% which is more than triple Bitcoin growth YTD.
As stated by Reuters, “the Enterprise Ethereum Alliance (EEA) will work to “enhance the privacy, security and scalability of the Ethereum blockchain, making it better suited to business applications,” according to the founding companies. Members of the 30-strong group also include Accenture Plc, Banco Santander, BP Plc, Credit Suisse Group AG, UBS Group AG, Banco Bilbao Vizcaya Argentaria, ING Groep NV, Bank of New York Mellon Corp, Thomson Reuters Corp (and startups ConsenSys and BlockApps.”
“We intend to integrate the ability to trade additional digital currencies and tokens to the exchange as various currencies grow in popularity and demand. Working to add Ethereum at this early stage of our development of the trading exchange makes perfect sense given the enthusiasm of large, well-known companies have for the Ethereum blockchain,” stated Craig Coaches, President of Favored Inc.
Since the launch of Bitcoin, the grand-daddy of all crypto currencies less than a decade ago, there have been over 1,200 other crypto currencies or tokens that were created and launched. As of current, the market cap of all crypto currencies and tokens is estimated to be hovering above $172 Billion (USD) with estimated daily trading volumes in the neighborhood of $3 Billion (USD).*
- Favored, Inc. along with its wholly owned subsidiary Empire Mobile Studios, are at present beta testing a trading exchange platform that will provide crypto currency traders a place in which to trade and exchange various crypto currencies. The Company at present is beta testing the system to trade and exchange Bitcoin vs USD.
“We believe that there is great growth potential within the crypto currency trading marketplace. At present, trading crypto currencies is far from main stream. Trading, much less owning crypto currencies has barely gotten outside the realm of the tech savvy. The average person as well as financial institutions and hedge funds have only started to become aware and learn about the opportunities in the crypto currencies marketplace as well as the means in which to acquire or trade crypto currencies,” stated Craig Coaches, President of Favored Inc.
The company has begun beta testing the BitTraderPro.com platform and it is not yet operational for live trading. If you would like to be considered to sign up and participate in the beta testing of the platform, please contact the company at [email protected].
In other corporate news, Favored Inc. recently amended the Company’s articles of incorporation to reduce the number of shares authorized from 3 Billion shares to 975 Million shares common stock authorized. The Company would also like to address any concerns this action may cause regarding potential reserve stock splits, the Company has no current plans or intentions regarding any such reverse stock split actions.
Favored, Inc. has repositioned itself as a holding company with a focus on acquiring, developing, publishing, and marketing digital assets, some areas of focus include but are not limited to Ecommerce and blockchain technology. The assets may range from mobile applications like its wholly owned subsidiary Kryptos Communications, Inc. which provides encrypted communications over mobile devices to developing applications under Empire Mobile Studios, Inc. both to self publish and for third parties.
Favored, Inc. would like to take this opportunity to provide shareholders with an update as to the company’s current operational status and address corporate communications going forward.
In April 2016 the company underwent a merger and change of control at which point Craig Coaches became the sole officer and CEO of Favored, Inc. (FVRD) and its two wholly owned subsidiaries Empire Mobile Studios, Inc. and Kryptos Communications, Inc. Since that time the company has been diligently working behind the scenes and is now caught up on all old filings and has maintained Pink Current Status since the change in control occurred. The company is now headquartered at its office in Miami Beach, FL.
Favored, Inc. (FVRD) has established a Twitter channel, @FVRD, inc., as a means whereby to begin communicating with its shareholders and the investing public. The two subsidiaries also maintain twitter channels at @EmpireMobileStu and @Kryptos411. The company’s website is located at EmpireMobileStudios.com
About Favored, Inc.
Favored, Inc. is a publicly traded (OTC PINK:FVRD) diversified holding company, which seeks opportunities to acquire, develop, and grow businesses that can generate long-term sustainable free cash flow and attractive returns in order to maximize value for all stakeholders. Favored seeks to develop a diverse array of operating subsidiaries.
