Competition within an industry forces companies to stay on their toes and always attract customers. But if a few companies become powerful enough, sometimes we see them partner with the competition, rather than oust them. And two days ago, we saw this scenario play out. Teaming up so that both companies can benefit, there is now a Glance Technologies BIG Blockchain partnership.
Glance Technologies BIG Blockchain Partnership
Both companies made the announcement on July 17th, stating that they have moved into a Strategic Alliance Agreement.
With this, Glance Technologies and BIG Blockchain will work together to create a “strategic marketing relationship,” as well as figure out ways to work together and promote both businesses.
It sounds like there is a lot of work to be done, mostly when it comes to learning how each company works and how they can lean on each other. But that doesn’t mean Glance Technologies and BIG Blockchain aren’t up to the task.
If they get it right, exceptional things could be on the horizon. BIG brings to the table accountability and security—not to mention experience developing blockchain products—while Glance Technologies has a rewards-based virtual currency that can be integrated into BIG’s platform.
The Company Reacts
Lance Morginn, CEO of BIG Blockchain, said the company is “excited to explore the strategic ways we can work with Glance.”
Meanwhile, Desmond Griffin, Glance CEO, said that the Glance Technologies BIG Blockchain partnership is “just the beginning” of the two companies working together.
The Market Reacts
Despite both companies expressing their excitement and optimism, the Glance Technologies stock and BIG Blockchain stock were in the red zone the whole day today. It has only been two days since the news of the partnership broke.
It might just be one of those days, but that could be debated. After all, blockchain stocks started to rally yesterday, likely caused by the recent crypto gains. But what do you think?
Glance Technologies Stock (CSE:GET)
According to Yahoo Finance, Glance Technologies closed the day trading down 4.82%.
The technology company, which operates the Glance Pay mobile app, has a market cap of 18,443M.
BIG Blockchain Intelligence Stock (CSE:BIGG)
BIG Blockchain ended the day down 2.63%, according to Yahoo Finance.
Like Glance Technologies, BIG is a small-cap company, with a market cap of more than 19M.
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