Taoping: Rises on majority stake buy in cloud firm, NFT unit launch
31/03/2021 15:14
** Shares of cloud-based platform provider TAOP.O up 13.2%
at $11.36, set for third straight session of gains
** Co to acquire 51% stake in Render Lake Tech Ltd, which
develops cloud desktop, non-fungible tokens (NFT) and cloud
gaming businesses urn:newsml:reuters.com:*:nGNX585p9r
** Says it is establishing business unit that deals with
NFTs, a type of digital asset authenticated by blockchain
** "Cloud rendering and NFT can provide powerful tech
support for TAOP's new media, smart cloud, and online education
platform businesses" - CEO Jianghuai Lin
** Including session's gains, TAOP shares have risen more
than four-fold YTD
(Reporting by Rishi Kant in Bengaluru)
((Rishi.Kant@thomsonreuters.com))