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Why is Scienjoy Holding Corporation (SJ) stock soaring today?

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Scienjoy Holding Corporation (SJ), a live streaming mobile platform in China, announced the strategic alliance with Snipp Interactive Inc. after which the SJ stock price soared by 40.92% to reach $13.50 a share at the time of this writing. SJ stock was gaining at the previous trading session and its closing per share price of $9.58 was up by 18.42%. Let’s deep dive to explore more of it.

Strategic Alliance between Scienjoy and Snipp Interactive.

Scienjoy stock entered the strategic alliance with Snipp Interactive mainly to introduce its New Royalty and Rewards system and secondly it intends to explore Bitcoin and NFT rewards along with Snipps Interactive for its 200 million users and 3 lac broadcasters. Let’s discuss these two areas in detail.

In connection with the alliance agreement, SJ’s in-app currency solution will be combined with Snipp’s loyalty and rewards engine for the purpose of developing a new reward system. This new system will help SJ stock in identifying its user experience, devise new ways for additional revenue and potential of cryptocurrencies on its platform. Integration with the Snipps platform will make Scienjoy’s broadcasters and users able to earn points through engagement and redeem these points to win various digital rewards. This new reward system will also serve as the monetization channel where brands interested in Scienjoy’s audience would be able to sponsor events as well as broadcasters in addition to live broadcasts.

Secondly both Scienjoy and Snipp Interactive will work together in SJ’s platform to enable broadcasters to develop their own non-fungible tokens. The users would be able to bid and purchase NFT’s via the points they accumulated through a new reward system from their favorite broadcasters. Broadcasters will have new opportunities for monetization to increase their reputation and strengthen their relationship with their fans.

SJ’s management perception:

According to Scienjoy management, a huge audience of SJ stock would help Snipp Interactive to increase its outreach capabilities and its cutting-edge technology and loyalty solutions would further strengthen the value proposition of Scienjoy for both its users and broadcasters that would ultimately benefit SJ in future growth.

Conclusion:

So far so good for SJ stock as far as market sentiment is concerned.SJ stock was gaining previously and today’s news of the SJ stock alliance agreement with Snipps Interactive added more hype in the rising stock price. In a nutshell, SJ stock can be a good bet for investors in the long run.

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