AppSwarm and SinglePoint (OTC: $SING) Finalize Plans for Cannabis and Bitcoin Focused Applications and Technology
TUSLA, Okla. - November 29, 2017 (Investorideas.com Newswire) AppSwarm, Inc. (SWRM) ("the Company") A technology company specializing in the accelerated development and publishing of mobile apps has completed development plans with SinglePoint (OTC:SING) to conduct a shared roll-out of mobile applications specifically geared to solve issues in the cannabis space using the Blockchain technology and Bitcoin payment options. The applications and tech will be modelled and marketed under SinglePoint's SingleSeed subsidiary (www.SingleSeed.com), while AppSwarm (www.app-swarm.com) will provide the necessary technical support and application development. The venture calls for a 50/50 revenue share on all products to be deployed.
The Crypto and cannabis market is in need for technology solutions that can advance productivity and do it safely. AppSwarm and SinglePoint intend to develop mobile applications that address these needs by creating a system that allows a business to see what is going on in the market around them. The mobile apps and tech created will also modernize the consumer experience by adding in SinglePoint's payment features, as well as a multitude of other functionalities that are currently proprietary to AppSwarm.
"This JV with SinglePoint allows them unfettered access to all of the technology we currently have in-house, as well as what we are and will be developing in the near future. With the Crypto space expanding at mind-boggling speed it only makes sense to be partnering with such a prestigious industry leader in SinglePoint," stated AppSwarm CEO Ron Brewer.
SinglePoint and AppSwarm plan to launch the first application mid-January 2018 as well as release additional applications shortly after the initial launch. The first application will provide a base for additional applications and will be a service-based application for the business-to-business (B2B) and business-to-consumer (B2C) markets.
The cryptocurrency market cap has reached $300 billion, according to marketcap.com, with gains in many of the major currencies, particularly as Bitcoin price has jumped over $9,500. The market cap has been driven by a number of factors, but Bitcoin continues to maintain a 53 percent dominance in the total cap.
The market cap surge has been spurred on by a huge jump in the value of Bitcoin, but other coins have also had excellent weeks. Ethereum and Litecoin had particularly strong weeks, with Ethereum posting an all-time high and other altcoins like Monero, IOTA, and Dash all had a strong showing as well.
The cannabis market is projected to reach $50 billion by 2025. Currently, cannabis is legal in 29 states and the District of Columbia. These mobile applications will be available for use in all states. As new states legalize, the companies will look to grow alongside the new states opening to legalized cannabis sales.
SinglePoint CEO Greg Lambrecht states, "We are excited to be working with AppSwarm on our proposed solutions. What they have shown us they have in-house supports what we are looking to roll out into the industry. We will work with what they have and continue to build new applications to add value. This is really a win-win partnership for both teams as they have great technology and we have capital to roll out a national campaign to quickly start driving positive revenue for both companies."
We develop and publish mobile gaming and business apps, with a focus on accelerating the development of free to play mobile games and fast-track them to market. We partner with game and business developers through joint ventures, royalty agreements, marketing partnerships, and outright purchases through our publicly-traded company on the OTC Markets, ticker SWRM.
About SinglePoint Inc.
SinglePoint, Inc. (SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through diversification into horizontal markets, SinglePoint is building its portfolio by acquiring an interest in undervalued subsidiaries, thereby providing a rich, diversified holding base. Through its subsidiary company SingleSeed the company is providing products and services to the cannabis industry.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking statements that are subject to risk and uncertainties including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause SWRM's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
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