A problem that prevents experienced stock traders from entering the blockchain field is a dearth of Wall Street investment opportunities. Blockchain is a prosperous sector, with a crypto market value of over $1 trillion. However, a lot of investors don’t want to put in the time or effort necessary to create and maintain investments in this field. Fortunately for them, blockchain businesses are starting to incline toward the conventional market. One of the most recent to do so is W3BCloud, which is getting ready to go public via Social Leverage Acquisition (NYSE:SLAC).
Cryptocurrency is mostly absent from the Nasdaq Exchange and the New York Stock Exchange. Purchasing bitcoins is the preferred method of investing over purchasing equities. Numerous factors, such as a lack of rules and challenging investment procedures, make this tough.
Investors now have more alternatives than they had a year ago, but not much more. By becoming the first publicly listed cryptocurrency exchange stock on the market last summer, Coinbase (NASDAQ:COIN) created market history. Otherwise, investors are limited to investing in cryptocurrency mining equities, which face the danger of becoming obsolete as the quantity of Bitcoin (BTC-USD) approaches its maximum and Ethereum (ETH-USD) switches to proof-of-stake.
W3BCloud Joins Group of Stocks Related to Blockchain
These investors may have a new choice coming up soon. Online 3.0 player The newest blockchain-related stock for investors who are hesitant to completely enter the cryptocurrency trading market is W3BCloud. W3BCloud will shortly list on the NYSE with assistance from the special purpose acquisition company (SPAC) Social Leverage Acquisition.
A blockchain infrastructure provider called W3BCloud wants to enable a range of blockchain applications. In particular, it offers services for blockchain gaming, metaverse and Web 3.0 apps, and decentralized storage. W3BCloud’s history is one of its most alluring features; it was founded as a partnership between blockchain software provider ConsenSys and chip manufacturer Advanced Micro Devices (NASDAQ:AMD).
One of the bigger blockchain computing service providers, the business generated $40 million in revenue last year. Some of the biggest blockchain initiatives in the world, including as Ethereum, Solana (SOL-USD), and Filecoin, use the services of W3BCloud (FIL-USD).
W3BCloud has done well to attract a lot of funding thanks to its wide range of products and solid partnerships with leading businesses in the computing and blockchain sectors. The business was successful in raising more than $20 million in financing during its most recent round. It has now declared intentions to list on the New York Stock Exchange by merging with Social Leverage in a SPAC. The agreement values the business at $1.25 billion, with Social Leverage agreeing to pay $345 million to W3BCloud.
According to a press statement from the firm, the merger is anticipated to be completed in Q4 of 2022. The price of SLAC stock is hardly changing at all in response to the news, staying close to $10.