VANCOUVER, British Columbia, Aug. 29, 2024 (GLOBE NEWSWIRE) -- BIGG Digital Assets Inc. ("BIGG" or the "Company")(CSE:BIGG, OTCQX:BBKCF, WKN: A2PS9W)), a leading innovator in the digital assets space and owner of Netcoins, Blockchain Intelligence Group and TerraZero is pleased to report its Q2 2024 financial results. All figures are in Canadian Dollars (CAD) unless otherwise noted.
Q2 2024 Highlights:
Gross operating revenue of $2.4M, comprising $2M for Netcoins, $0.4M for Blockchain Intelligence Group
Netcoins revenue was $2M (2023 - $1M), marking an increase of 96% year-over-year (YoY) and an increase of 137% for H1 2024 as compared to H1 2023. Transaction revenue was $1.99M, increasing 95% YoY. At June 30, 2024, customers' staked Assets under Custody totalled $3.8M (2023 - $Nil), resulting in service revenue of $0.01M (2023 - $Nil);
$0.4M (2023 - $0.33M) for Blockchain Intelligence Group, up 18% YoY and 7% over Q1 2024. Revenues were in-line with those of the prior year, increasing by 1% during H1 2024 as compared to H1 2023.
Netcoins customer Assets Under Custody was $114.3M at the end of Q2 2024, up $51.9M or 83% from $62.4M under custody at the end of Q2 2023
Netcoins' active users totalled 9,170, a 20% increase YoY. The total of active users was down 28% from Q1 2024 due to seasonal factors and the flat performance of the crypto market. However, the overall increase year-to-date was 6%
Netcoins added 7 coin offerings: PEPE, BONK, INJ, TIA, WIF, WLD, ARB
Netcoins USA's direct integration with Zero Hash, a global leading crypto infrastructure provider, through its industry-leading API infrastructure was on-going during Q2 2024 and subsequently in advanced beta testing
BIG activities included the development of two new, innovative retail service offerings – that will leverage its proprietary data and robust infrastructure. These services are designed to capitalize on emerging market opportunities and are expected to significantly expand BIG's total addressable market. These strategic initiatives will enhance our market presence and drive long-term value for the Company's shareholders. The new services are anticipated to be officially launched in H2 2024
BIG, in partnership with WhiteStream Blockstream Intelligence, announced the launch of a state-of-the-art Operational Simulator Training Program. This innovative training solution is designed to equip law enforcement and financial crime investigators with the skills and knowledge necessary to tackle the complexities of blockchain-related crimes
BIG continued expand its global footprint and offer QLUE to a wider audience, delivering innovative solutions that empower government agencies and law enforcement organizations to navigate the complexities of digital assets with confidence
TerraZero continued to focus on the build out of its Intraverse Live product, an entirely new gamified social platform. Intraverse Live offers a fully customizable and personalized virtual environment for users to hang out with their friends, play games, stream their favorite music and video content, and more. It will offer monetizable opportunities for artists, game developers, brands and creators
TerraZero and Napster announced the second phase of its groundbreaking metaverse experiences – an exclusive Q&A and artist chat with Ric Wilson, a multi-talented Chicago artist, held on May 16, 2024. The event marks a significant milestone in Napster's commitment to providing immersive, interactive experiences for music lovers worldwide. The event offered participants: exclusive music streaming, exclusive access, limited ...
