Cryptyde, Inc. Provides Operational Update and Corporate Objectives for 2022 into 2023
July 06 2022 - 8:30AM
Cryptyde, Inc. (NASDAQ: TYDE) an offering of comprehensive,
scalable Web3 businesses utilizing blockchain technologies, NFTs,
Smart Contracts, Metaverse and Crypto announced today its reporting
of a corporate roadmap for the remainder of 2022 into 2023.
Brian McFadden, President and CEO of Cryptyde,
Inc. stated, “With our recent spinoff from Vinco Ventures, and now
operating as a fully independent NASDAQ listed company, we wanted
to provide an update regarding our business and forthcoming
objectives to both our industry stakeholders as well as our
investors. We believe that our accomplishments highlighted below
have created a fundamental base for our organization to realize our
stated objectives for 2022 carrying into 2023. We feel confident
that upon successful execution, Cryptyde can become both an
industry pioneer, as well as leader in the Web3 space. In addition,
we are evaluating partnerships and business development
opportunities that we believe should lead to acquisition candidates
as part of our larger long-term growth strategy.”
Operational
Achievements
- Completion of
the spinoff from Vinco Ventures, Inc.
- Launch of
Freescape Community - Freescape was featured in the Matter creator
lounge at VidCon, where the world's leading digital creators,
platform innovators and their fans converge in one place
- Equity-based
financing at a price of $8.00 per share
- CW Machines
continued delivery of BTC mining equipment to the resale
marketplace
Targeted H2
2022-H1 2023 Corporate
Objectives
- Focused growth
on the transition from Web2 to Web3 in consumer facing
industries
- Launch of BTC
Tokenization Platform to revolutionize consumer focused mining
- Next launch
phase of content driven Metaverse – Freescape
- Diversification
across multiple Web3 industries leveraging smart contract and
tokenization technologies
- Continued focus
on creating shareholder value through strategic partnerships and
acquisitions
“As events unfold, we intend on being
transparent with the marketplace. At the time each one of the above
opportunities is met or materially advanced, we plan to broadcast
these events to the Web3 community and our investors. We are
excited for the future of Cryptyde and appreciate the market’s
patience while we execute on our plans and achieve our objectives.
We look forward to a productive second half of 2022 which is
expected to solidify the infrastructure we will use as our
foundation of growth into 2023,” added McFadden.
About Cryptyde
Cryptyde, Inc. (Nasdaq: TYDE), is focused on
leveraging blockchain technologies to disrupt consumer facing
industries. http://www.cryptyde.com/
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements in this press release other than
statements of historical fact could be deemed forward looking,
including, but not limited to, the statements regarding the
spin-off of the Company from Vinco Ventures, Inc. Words such as
“plans,” “expects,” “will,” “anticipates,” “continue,” “expand,”
“advance,” “develop” “believes,” “guidance,” “target,” “may,”
“remain,” “project,” “outlook,” “intend,” “estimate,” “could,”
“should,” and other words and terms of similar meaning and
expression are intended to identify forward-looking statements,
although not all forward-looking statements contain such terms.
Forward-looking statements are based on management’s current
beliefs and assumptions that are subject to risks and uncertainties
and are not guarantees of future performance. Actual results could
differ materially from those contained in any forward-looking
statement as a result of various factors, including, without
limitation: risks and uncertainties regarding achievement of the
expected benefits of the Company’s spin-off from Vinco Ventures,
Inc.; tax treatment of the spin-off; market and other conditions;
the risks that the ongoing COVID-19 pandemic may disrupt the
Company’s business more severely than it has to date or more
severely than anticipated; unexpected costs, charges or expenses
that reduce the Company’s capital resources; the Company’s
inability to raise adequate capital to fund its business; the
Company’s inability to innovate and attract users for the Company’s
products; future legislation and rulemaking negatively impacting
digital assets; and shifting public and governmental positions on
digital asset mining activity. Given these risks and uncertainties,
you are cautioned not to place undue reliance on such
forward-looking statements. For a discussion of other risks and
uncertainties, and other important factors, any of which could
cause the Company’s actual results to differ from those contained
in the forward-looking statements, see the Company’s filings with
the Securities and Exchange Commission (SEC), including the section
titled “Risk Factors” in the Company’s Registration Statement on
Form 10, as amended, filed with the SEC on May 13, 2022, and the
Company’s Registration Statement on Form S-1, as amended, filed
with the SEC on June 16, 2022. All information in this press
release is as of the date of the release, and the Company
undertakes no duty to update this information or to publicly
announce the results of any revisions to any of such statements to
reflect future events or developments, except as required by
law.
For further information, please contact:
Investor RelationsRichard
Brown617-819-1289investors@cryptyde.com
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