Waterside Capital Corporation (OTCMKTS:WSCC) Raises $1.1 Million: Stock Falls a Bit

Waterside Capital Corporation (OTCMKTS:WSCC) on April 6, 2022, announced raising $1.1 million in funding from equity investors for launching a web3 enterprise. The firm will be focusing on three key areas – Liquidity Provider, Staking, and Non Fungible Tokens.

Market Stats

On Wednesday, WSCC stock fell 3.80% to $1.27 with 1.1K shares, compared to its average volume of 2.1k shares. The stock moved within a range of $1.2700 – 1.3500 after opening trading at $1.32.

Waterside Raises $1.1 Million to Launch Web3 Enterprise

In decentralized finance, the capacity to trade assets is facilitated by Liquidity Pools, containing a 50/50 balance between both underlying tokens. The firm is investing significantly in LPs to generate revenue, which can result in fueling other initiatives as well.

Staking can ensure passive revenue as it entails the purchase of large blocks of Proof of Stake assets. This is a sustainable approach, harnessed by Ethereum and Bitcoin. Ethereum 2.0 will be on PoS in near future and the company is aiming to be validator on the network. The firm is also aiming to build a World Class NFT project research team to guide strategic investments.

Waterside Capital Corporation is anticipating that the portfolio will comprise of digital assets including real estate on diverse platforms. These platforms include The Sandbox and upcoming Otherside from Yuga Labs. The assets will be utilised for royalty income.

The company believes that it can use the acquired assets for quick growth of its portfolio. NFT assets have a number of utilities in addition to potential appreciation in the underlying digital asset.

Traders Corner

WSCC stock is trading below the 20-Day and 50-Day Moving averages of $1.28 and $1.27 respectively. However, the stock is trading above the 200-Day moving average of $0.81.