DatChat Shares Rally on Initiation of Web 3.0 Platform Development
By Sam Boughedda
Investing.com — Shares of communications and social media company DatChat Inc (NASDAQ:DATS) jumped 24% after the company said it has initiated the development of a web 3.0 platform.
The company said in its press release that the new platform will leverage DatChat technology to share and protect NFTs, documents, audio and video files and messages.
"The construction and implementation of this innovative platform is a critical step in DatChat's strategic growth plan," said CEO Darin Myman. "By utilizing our proprietary technology, our platform will allow users to safeguard their data and digital assets in a completely decentralized environment."
The development will use DatChat's technology as the foundation for a decentralized advertising network for Web 3.0 and Metaverse applications. It will be led by Mark Mathis, who was appointed the company's chief blockchain architect at the start of January.
Mathis has been given the responsibility of leading DatChat's Web 3.0 and Metaverse initiatives and growing the Web 3.0 development team.
DatChat shares are currently trading at $3.
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