(BFM Bourse) – +3200% in ten days, it’s hard to do better than Crypto-Blockchain Industries, the new company of Frédéric Chesnais (main shareholder of Atari). Without significant revenue, the company, created in early 2021, wants to build a portfolio of blockchain activities: some investors are ready to pay to see.
Many investors have yet to hear about Crypto-Blockchain Industries (CBI). After all, it’s not even a month since this French company went public. However, the company, founded only at the beginning of the year and which still has only ten employees, is already on the podium of the three largest capitals in the Euronext growth segment, behind Escor and Exclusive Networks.
When it listed on the stock market (in the E1 compartment, reserved for qualified investors) via direct listing on October 26, Crypto-Blockchain Industries was valued at 38.7 million euros, at 2 euros per share. Eleven sessions later, the stock quoted… 65.87 euros around 10:30 am this Friday (+21% higher than the previous day), or about 1.3 billion euros in capitalization according to Euronext.
As its name aptly suggests, the company founded by Frédéric Chesnais, Atari’s buyer in 2013 and CEO of the video game publisher until last April, is surfing the rise of blockchain technology.
Video games, finance and logistics in the viewfinder
The firm presents itself as “the first player dedicated to blockchain technology listed in France”, aiming to invest in or develop and manage video games, professional applications and other selective projects related to blockchain, NFT and crypto-assets. CBI’s ambition is to develop and improve a portfolio of blockchain activities covering different sectors (video games, interactive entertainment, finance, logistics, etc.) to directly exploit or partner with this technology.
Crypto-Blockchain Industries significantly benefits from a license from Atari to develop a virtual world incorporating blockchain technology, with a fee of 50% of the revenue generated through this license (Atari also has an option to purchase a fully diluted 5% of CBI. Capital for a nominal amount , once the CBI has secured at least $1 million in third-party funding).
In practice, CBI’s activities are currently limited to participating in three American companies OP Production (50% of the capital), Free Rain East (50%) and National Carrier Exchange (27.5%). The first two are game publishers (Infestation: Survivor’s Stories and Aftermath), while National Carrier Exchange is a start-up that aims to establish a marketplace for logistics and fleet management services. In the 2020/2021 financial year (April 1, 2020 to March 31, 2021) CBI achieved a turnover of 0.49 million euros from two stakes in video games for an operating result of 0.29 million euros and a net income group share of 0.15 million euros.
30 million Atari tokens
Among its assets, the firm has 3.5 million shares and 30 million Atari tokens. Thanks to a license from Atari, Crypto-Blockchain Industries is currently developing AlphaVerse, a virtual world (metaverse) that will open in the summer of 2022. NFT AlphaVerse’s pre-sale will launch by the end of the year.
“I am delighted to devote myself to the development of blockchain investment opportunities. This is a new, very long-term entrepreneurial adventure. We are primarily focusing on video games, virtual world development and NFTs, areas that I know well. ; This is the development to support the emergence of our blockchain. will allow a solid foundation to be laid for”, explained Frédéric Chesnais during the introduction. “The Euronext Growth Paris listing will allow us to increase our visibility and connect new strategic, industrial and financial partners as part of our investments around blockchain technology”.
And incidentally allow the float to widen a bit, since Neta, which owns more than 93% of the capital directly and through its holding company Kerr Ventures, has already made two smaller disposals.
Guillaume Bayre – ©2022 BFM Bourse