AppSwarm Inc (OTCMKTS:SWRM) has linked up with Singlepoint, a company invested in the cannabis market, to create a bitcoin and blockchain application for the cannabis industry. Traders have been absolutely feasting on the stock since the announcement and it is up 55% today alone.
“This JV with SinglePoint allows them unfettered access to all of the technology we currently have in-house, as well as what we are and will be developing in the near future. With the Crypto space expanding at mind-boggling speed it only makes sense to be partnering with such a prestigious industry leader in SinglePoint,” stated AppSwarm CEO Ron Brewer.
AppSwarm Inc (OTCMKTS:SWRM) develops and publish mobile gaming and business apps, with a focus on accelerating the development of free to play mobile games and fast-track them to market. According to the company, they partner with game and business developers through joint ventures, royalty agreements, marketing partnerships, and outright purchases.
A quote from the company: “We’re not just an incubator. We get involved with developers who have a phenomenal product close to launch. Since user experience and the target audience are critical to success, we qualify candidate mobile apps by thoroughly testing engagement, retention, virality and monetization. We then accelerate the development through funding, technology and marketing expertise, as well as a unique eco system that accelerates user acquisition.”
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SinglePoint CEO Greg Lambrecht states, “We are excited to be working with AppSwarm on our proposed solutions. What they have shown us they have in-house supports what we are looking to roll out into the industry. We will work with what they have and continue to build new applications to add value. This is really a win-win partnership for both teams as they have great technology and we have capital to roll out a national campaign to quickly start driving positive revenue for both companies.”
The application being built will be modeled and marketed under SinglePoint’s SingleSeed, while SWRM will provide the necessary technical support and application development. The venture calls for a 50/50 revenue share on all products to be deployed. The two companies intend to develop mobile applications that address these needs by creating a system that allows a business to see what is going on in the market around them. The mobile apps and tech created will also modernize the consumer experience by adding in SinglePoint’s payment features, as well as a multitude of other functionalities that are currently proprietary to AppSwarm.
AppSwarm Inc (OTCMKTS:SWRM) is going to be a play right now that rides some of the frenzy related to bitcoin, but also will hinge on the success of their association with SING. If this deal becomes forgotten – and SING has a lot of irons in the fire – then, so too will SWRM fall by the wayside. We will be updating readers as more information comes out about SWRM and their deal with Singlepoint. For continuing coverage on shares of $SWRM stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next breakout pick!
Disclosure: We hold no position in $SWRM, either long or short, and we have not been compensated for this article.