Phunware Inc. (PHUN) stock prices declined 0.47% to $1.04 in the current market trading today.
PHUN Stock Launches PhunCoin
August 27th 2021 saw PHUN stock announce the launch of a security token by the name of PhunCoin. The fully integrated enterprise cloud platform for mobile is known as Multiscreen-as-a-Service (MaaS), which facilitates the provision of products, solutions, data, and services for global brands. With the release of PhunCoin, the company hopes to empower consumers to take control of and be compensated fairly for their data.
Scope of Foray into Crypto
The innovative cryptocurrency is uniquely positioned to be adopted on a massive scale. This is because it is built on the leveraging of the global reach and distribution of a NASDAQ-listed company that specializes in consumer engagement and monetization. The company is backed by its extensive history since its inception in 2009, having since developed mobile ecosystems for some of the world’s leading brands. PHUN stock has also generated more than 15 billion Phunware IDs from users across the globe to develop a customer data platform (CDP). This platform manages roughly one billion monthly active devices when operating at scale.
PHUN Stock Advocates for Autonomy
PHUN stock sought to address the exploitation of consumers’ data, which it considered to be one of the most valuable assets in the global marketspace. Accordingly, the company launched PhunCoin to usher in a new era of transparency and accountability, which will serve to enable consumers to determine the value of the data they choose to share with whoever they choose to share it with.
PhunCoin Functionality
The cryptocurrency will be managed by PhunWallet, which is available on both iOS and Android. PhunCoin operates in conjunction with PhunToken to establish a dual token economy that aims to blockchain-enable the company’s CDP. PHUN stock has recruited Securitize to ensure the compliant tokenization of PhunChoin. Securitize is the first blockchain-based SEC-registered transfer agent.
Future Outlook for PHUN Stock
PHUN stock reported a promising quarter, consolidated by its announcement of the launch of PhunCoin. The company is keen to capitalize on its foray into the NFT space, with investors hoping that management will continue leverage their resources effectively. This is hoped to facilitate significant and sustained increases in shareholder value.
