Graph Blockchain (GBLC.C) continued its string of cryptocurrency related acquisitions by closing the purchase of private company Beyond the Moon today, according to a press release.
Beyond the Moon helps to facilitate the entry into what’s called a crypto-launchpad.
Launchpads can be loosely described as any system or program that helps cryptoasset projects reach their full potential on their way to mainstream adoption. Technically, initial coin offerings, with all of their potential pitfalls, are cryptocurrency launchpads because they provide access to investment cash that said project may have been ineligible. This isn’t that, though. This is a program that gives access to options like DEX offerings, or the opening fundraising round for a new decentralized exchange.
“Graph’s acquisition of Beyond the Moon gives our shareholders exposure to quality Initial DEX offerings and early adoption of new crypto tokens. By adding Beyond the Moon to our group of companies, we gain access to even earlier rounds of any upcoming token presales to add value to Graph’s portfolio of altcoins,” said Paul Haber, chief executive officer of Graph Blockchain.
Graph Blockchain has been many things over the years, but now it seems to have found its niche in providing shareholders with exposure to crypto-asset and crypto-asset adjacent industries and programs like altcoin custody and decentralized finance. It owns Babbage Mining, a proof-of-stake miner focused on altcoins, and has the ability to provide investors with exposure to the emerging cryptocurrency market with all of the potential for technological disruption and potential gains that altcoins can offer.
Oh, and also all the risk.
Beyond the Moon helps to smooth over the process of entering crypto launchpads, making it easier for people to make the connections necessary to get involved in early-stage crypto-tokens. Before listing a new token on a DEX, launchpads provide the first investment round. These can be hard to find and even more difficult to get involved, and risky when you do get involved, but if the risks can be sufficiently managed, then they can be otherwise quite rewarding. Graph will be bringing this program onboard to give its shareholders potential exposure to these opportunities.
The all-share purchase price for Beyond the Moon was $6 million.