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EASTON, Pa. - Eightco Holdings Inc. (NASDAQ:ORBS), a technology company with a market capitalization of $2.1 billion and showing significant volatility according to InvestingPro data, announced Friday the launch of a pilot program focused on AI authentication for enterprise customers, aiming to address identity and verification challenges as companies scale their AI operations.
The initiative will develop approaches to verification challenges through strategic investments and partnerships, including what the company describes as a "first-of-its-kind Worldcoin treasury." With annual revenue of $43.87 million and a beta of 2.9, the company’s stock has shown remarkable volatility, gaining over 350% in the past year.
"With trillions of dollars being invested in AI, the lack of scalable human-proof authentication has become a critical enterprise challenge," said Dan Ives, Chairman of Eightco Holdings, in a press release statement.
According to Ives, the company has heard from numerous enterprise technology vendors seeking secure, verifiable identity solutions as they expand AI workloads and applications. The new program aims to help companies analyze single sign-on capabilities and verification pathways.
Eightco’s strategic investors include BitMine (BMNR), MOZAYYX, World Foundation, Wedbush, Coinfund, Discovery Capital Management, FalconX, Kraken, Pantera, GSR, and Brevan Howard.
The company positions itself as developing technology for authentication, verification, and what it terms "Proof of Human" through its investments and partnerships. Eightco states its goal is to serve as a global authentication and trust layer for corporations.
Eightco Holdings Inc. trades on the Nasdaq under the ticker ORBS. InvestingPro analysis suggests the stock is currently overvalued, with 13 additional ProTips available to subscribers covering crucial metrics like profitability, debt levels, and growth potential.
In other recent news, Eightco Holdings Inc. has made significant strides with its Worldcoin initiative. The company announced a $250 million private placement and an additional $20 million strategic investment from BitMine Immersion Technologies to advance its Worldcoin treasury strategy. This funding is intended to acquire Worldcoin (WLD) as a primary treasury reserve asset. Eightco’s ’Power of 8’ initiative aims to acquire 800 million Worldcoin tokens and verify 8 billion humans, with the current verified user count surpassing 17 million. Meanwhile, BitMine Immersion Technologies has reported its cryptocurrency holdings reaching $11.6 billion, including more than 2% of the total Ethereum supply. BitMine’s assets comprise 2,650,900 ETH tokens, 192 Bitcoin, a $157 million stake in Eightco Holdings, and $436 million in cash. These developments highlight the growing focus on digital assets and identity verification in the tech industry.
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