The OLB Group, Inc (OLB) stock prices were up by an impressive 7.27% shortly after market trading commenced on June 23rd, 2021, bringing the price per share up to USD$5.31 early on in the trading day.
SecurePay Supports NFTs
June 23rd, 2021 saw the company announce that its SecurePay payment gateway would facilitate the transfer or sale of digits assets using non-fungible token (NFT) technology. The NFT technology is founded on the Ethereum platform, which is responsible for token generation and redemption, transfer of registered ownership, and associations with assets.
Fraud Prevention
The explosive proliferation of digital ticketing over the past year has emphasized the need to address secure ways to buy and sell these digital properties. Of crucial importance is that this be done without the risk of fraud that is associated with the replication of QR codes or barcodes, particularly on the sale of Peer-to-Peer transaction. The transfer of ownership when an NFT is associated with a digital ticket or asset is assured through a blockchain ledger. This prevents the same ticket from being sold multiple times, which, unfortunately, happens quite often.
Scope of SecurePay
The secure NFT process that has been put in place by OLB is designed to work seamlessly with a myriad of payment processing options of SecurePay. This gives both buyers and sellers unmatched flexibility in funding sources. SecurePay works with several major digital wallets including Apple Pay, Google Pay, crypto wallets, PayPal, and traditional credit cards. Smart contracts are used by NFT functions to facilitate the easy exchange of funds and appropriate management of terms and conditions of sale.
Utility of NFTs
While NFTs are most often associated with art and transactions of collectibles, the way they work is ideal for the sale or transfer of any digital asset, regardless of the dollar value. The company is dedicated to providing solutions that benefit all the parties involved in flexible and secure buying and selling. NFTs are the latest addition to the portfolio of service that the company believes will be effective in the fight against digital asset fraud.
Future Outlook for OLB
Armed with its foray into the burgeoning NFT market space, OLB is poised to continue its trajectory of success. The company is keen to expand its market footprint in the blockchain space, thereby ushering in unprecedented growth. Current and potential investors are hopeful that management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.
