Crypto Blockchain Industries (CBI) went public, on Euronext Growth, on October 26, through a direct listing procedure, at a price of 2 euros per share. The Parisian company, which is developing a metaverse based on blockchain technology in which Atari’s cryptocurrency will be used in particular as a payment method, was then valued at just under € 39 million … EllYesterday, before today’s earnings launches (-30%), it was worth more than 1.5 billion euros, that is, 50 more than Immersion (an augmented reality company from Bordeaux that designs, in particular, immersive rooms used for prototypes or digital models), 18 times more than The Blockchain Group (which has notably developed a digital passport platform, Collaborate, used for example by Stellantis to track the events of the life of a vehicle), and as much as, in a completely different, Fnac Darty, which last year generated a turnover of 7.5 billion euros and a net profit from continuing operations of almost 100 million euros.
Promotion to celebrities
By way of comparison, Crypto Blockchain Group recorded throughout the past year, which ended at the end of March, a positive net profit of 150,000 euros from a turnover of 490,000 euros, “the result of two participations in video games,” said the company run by Frédéric Chesnais, former head of Atari, a pioneer in the industry. The company also has among its assets 3.5 million Atari shares and 30 million of its tokens (10 euro cents per unit at the current price), that is, a cryptocurrency that is based on a pre-existing blockchain technology, in this case that of Ethereum (ETH).
Crypto Blockchain Industries, created in January 2021, was barely three months old at the close of the 2020-2021 fiscal year. The proceeds collected then came solely from their stakes in the US studio Free Reign Entertainment, which signed the title Romero’s Aftermath, a survival game for PC in a post-apocalyptic universe populated by zombies, and in the publisher OP Productions, which operates the game. Infestation: Stories of Survivors.
Since then, the Parisian company has expanded its sources of income. It took a stake in the National Carrier Exchange, a logistics application that allows trucking companies to track the location of their trucks. And he just announced, tonight, the acquisition of a 50% stake in Blockchain Artists Agency, an agency that promotes NFTs to celebrities, also owned by the “Charity Guys”, Jean-Charles Carré and Michael Wiesenfeld, artistic agents.
“The talent representation agency, specialized in the marketing and management of talents and brands in the world of blockchain, NFTs and metaverters, aims to help its clients make the best use of their rights in the blockchain domain. These talents will come from various universes such as music, sports, cinema, but also from other celebrities in the business world.so culinary for example “, explains CBI.
From $ 50 to $ 20,000 per unit
NFTs are digital works (personality tweets, autographids of athletes, musical pieces, boards …) certified by the blockchain, which can be used as decorative objects in the metaverse, these virtual worlds, such as Ready Player One from Ernest Cline’s book adapted to the cinema by Steven Spielberg, for the Most Elaborate projects, currently in development, of Roblox, Fortnite or Meta where Mark Zuckerberg has made it his new priority. On the occasion of its IPO, Crypto Blockchain Industries announced that NFT sales that can be integrated into its metaverse, AlphaVerse, which is scheduled to open in the summer of 2022, would take place at the end of the year.
ALSO READ: Metaverse: Five Questions About Facebook’s New Virtual World
Done and said, the company also announces, tonight, the sale of digital works worldwide by David Guetta: “almost all” of the proceeds will be donated to the DJ’s charity, United At Home, which supports UNICEF. Or Feeding America. The balance will be distributed among the service providers, including CBI, in charge of the entire business operation. “NFT’s exclusive collection includes never-before-seen videos of David Guetta concerts, badges, land, houses and apartments assocVisit the iconic United at Home virtual concert cities, with specific benefits like VIP tickets to select concerts. Top prizes start at $ 50 and the rarest and most prestigious NFTs start at over 4 ETH (approximately $ 20,000) “, we read in a press release. The idea is to raise funds by turning the United at Home concert series, in Miami or New York, into digital assets.
Sales start, Thursday
The NFT sale will begin on November 18 on the Opensea.io marketplace and will end “just before Thanksgiving” (November 25). CBI indicates in its press release that “ Additional collections will be offered in the coming months.. »
As part of this first NFT sale, Crypto Blockchain Industries presents Beat AlphaVerse, an AlphaVerse universe dedicated to music. Subsequently, the company intends to enter into “several agreements with renowned personalities and brands to develop virtual worlds for them in the fields of music, photography, fashion, sports …”, he explained during his presentation. Initial Public Offering. Atari has already partnered with Crypto Blockchain Industries.
The boss sold about 30,000 shares.
On paper, Crypto Blockchain Industries shares are reserved for qualified investors, those who have the experience, knowledge, and know how to properly assess risk. But financial regulations allow amateurs to be considered professionals if they so request. An investor can perfectly ask his bank or broker to be treated as a professional client if he meets at least two of the three following criteria: having a portfolio of more than 500,000 euros, having carried out at least ten transactions of significant size (600 euros ) per quarter on average for four quarters and / or have been employed for more than one year in a position in the financial sector. Knowing that this status is declarative only, no supporting document is required, therefore it is accessible to Mr. Everybody. In return, the qualified investor reduces his chances of being compensated in the event of a dispute.
The explosion of the share price outside of any financial reality is also explained by a limited free float, which represents around 7% of the total capital. At the time of the IPO, the founding manager Frédéric Chesnais owned 93.28% of the capital, directly and indirectly. Your shares are subject to a retention commitment signed on October 8 (90% must be withheldfor 180 days, then 75% for the next 180 days), except flexibility is allowed to ensure liquidity. Mr. Chesnais sold securities almost every day during the first week after the introduction, according to the sales declarations made to the Autorité des marchés financiers: October 28 (17,870 securities at a price of 4.11 euros), October 29 (525 to 4,202 euros and 7,251 to 4.75 euros), November 2 (11,495 to 9.8 euros), November 3 (7,478 to 10 euros and 2,640 to 10.5 euros), November 4 (118 to 11 euros) and November 5 (1,229 to 11 euros).
Atari has the option to acquire 5% of CBI’s capital at par for six months.
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