Cypher Metaverse Inc (CSE:CODE, OTCQB:BKLLF) has provided an update from blockchain company Arcology's leadership team, which said it has engaged Baker Tilly WM Advisory to review the Arcology platform.
Arcology is owned by Capital Blocktech Inc, of which Cypher owns 30%, according to the company.
“This engagement will help advance the Arcology Blockchain Network roll out: the technical team at the Digital Technology and Risk practice of Baker Tilly has the experience, rigor and expertise to help us move our revolutionary blockchain ecosystem forward,” Arcology CEO Laurent Zhang said in a statement.
READ: Cypher Metaverse completes final tranche of previously announced non-brokered private placement raising proceeds of $178,500
“The team at Baker Tilly provides Arcology with a resource to independently review the system and assess certain key strategic business decisions,” Zhang added.
Cypher noted that the engagement will focus initially upon performance verification of the Arcology Innovative blockchain design and is ideally timed to identify and maximize the Arcology value proposition as the Arcology Network advances toward the release of its public Testnet, which will provide developers and blockchain enthusiasts the ability to interact with the latest generation of blockchain.
As well, the company said it has engaged Red Cloud Securities Inc to provide market liquidity services for a period of six months at a monthly rate of C$5,000.
Cypher Metaverse seeks early-stage investments in emerging technology sectors, including the blockchain ecosystem, fintech and the metaverse.
The company identifies such opportunities and applies its relationships and capital to advance its interests.
Contact Sean at sean@proactiveinvestors.com