Vinco Ventures (NASDAQ:BBIG) is a name that investors can’t seem to get away from in recent months, and for good reason. The company has been taking great pains to makes itself an irresistible investment. Forays into non-fungible tokens (NFTs) and social media platforms keep it in the mainstream. However, perhaps no venture is bringing more attention to BBIG stock than that of its Cryptyde spinoff. And with hype growing around this spinoff’s coming launch, there’s increased attention around Vinco Ventures once again today.
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In 2021, Vinco Ventures and BBIG stock made serious headway as an investment in blockchain and NFTs. In the springtime, it launched an E-NFT project, allowing users to project three-dimensional, full scale NFTs at will. Recent days are seeing the company looking to compete with social media monolith TikTok; as InvestorPlace analyst Louis Navellier writes today, the company’s Lomotif app shows serious potential as “the next TikTok,” with millions of active users.
And building on the Lomotif hype this week is serious speculation around the company’s coming cryptocurrency-centric spinoff company, Cryptyde. Cryptyde will be, as Vinco reported in the fall, an acquisitions outfit looking for groundbreaking technology in the blockchain space. It caught investors’ eye especially ahead of the vote on the details of the spinoff in September.
BBIG Stock Back in Focus as Cryptyde Enters the Public Eye Once Again
Since late fall, not much news has broken around Cryptyde or when it will finally see a full launch, eventually culminating in a public listing under the TYDE ticker. But this week, speculation is surging once more around the company-to-be, and it’s bringing investors back to BBIG stock.
Investors speculate that Cryptyde’s spinoff could come sooner than one expects it to. Some deep digging by BBIG bulls shows evidence that the company is preparing to beef up its internet presence. It appears that more and more Cryptyde employees are updating their social media profiles to reflect positions within the fledgling company. In addition, investors have noticed that Cryptyde’s website is now live, although not finished.
And as hype builds around the company once more, bulls could expect more details in the near future. Vinco’s CEO is expected to interview with Benzinga, and many expect the interview to reveal new details about the Cryptyde launch. In the meantime, BBIG stock is paring losses of about 2% this afternoon; trading volume also appears lower than usual.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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