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News Release Digital Asset Direct

Fidelity's Bitcoin ETF Records Daily Inflow Of Over $8 Million

Cutoshi

Spot Bitcoin ETFs attracted a record-breaking inflow of close to $1.4B on Thursday, according to Senior ETF analyst Eric Balchunas. BlackRock’s iShares Bitcoin Trust collected more than $1.1B of this total. Other funds, including the Fidelity Wise Origin Bitcoin Fund, also attracted a noticeable daily inflow exceeding $8M. The surge coincided with BTC hitting the $76,943 mark. Tron also recorded an unprecedented surge in its transfer volume, which increased by 1928% over the year, as per data from Symbiosis. Moreover, as the two crypto giants continue to record impressive milestones, a new DeFi hybrid known as Cutoshi has also stood out, raising over 730K in its presale, which is only in 3rd stage. Cutoshi Farming Continues To Attract Major Investors Due to its unique innovations, Cutoshi is quickly becoming a viral crypto project. The project is designed to bring utility and luck to its investors through its unique hybrid DeFi ecosystem. Moreover, Cutoshi farming, now live, aims to provide its community members with a new way of earning money by completing quests and being rewarded with CUTO tokens. Cutoshi also stands out due to its decentralized exchange, offering users a low-fee, high-speed asset training experience across blockchains. The project also focuses on educating investors through the Cutoshi Academy, which helps learners understand the basics of DeFi and cryptocurrency technology. Through this feature, new investors could educate themselves about DeFi and discover new approaches to building a profitable portfolio. With a stage three presale price of $0.0259, Cutoshi is already offering over 70% ROI to early buyers. Given the CUTO token's capped supply of just 440M, this price is also set to surge in the next presale, which could help drive immense demand for the token, leading to token scarcity and driving the Cutoshi price even higher. Bitcoin Price Hits $77K Two Days After U.S. Election The price of Bitcoin crossed the $77K mark on November 8, setting a new ATH for the second consecutive day. This latest price mark was set just two days after Donald Trump won the US presidential election, topped with the election of several pro-crypto policymakers to Congress. With a market cap of over $1.5T, BTC is now the world’s ninth most valuable asset, surpassing Mark Zuckerberg’s Meta. Bitcoin’s YTD growth has also surged by over 115% as the BTC price trades around the $76,600 mark. Over the past month, the price of Bitcoin has surged by over 26%, with seasonal trends and halving-year data suggesting bullish prospects. Moreover, Bitcoin has always hit new highs during the previous two election cycles without returning to pre-election levels. Supported by technical indicators and the recent daily inflows of Bitcoin ETFs, the price of BTC could hit the $100K target before the year ends, followed by $200K by 2025. Adding to this momentum, the US Federal Reserve has lowered interest rates by 0.25%, a rare cut that could contribute to Bitcoin’s bullish sentiment. Tron Dao Unveils Tron-Peg USD Coin For Cross-Chain Transactions On Blockchain Tron Dao has unveiled the Tron-Peg USD Coin within the TRX blockchain, a new cross-chain designed to streamline global transactions while expanding Tron’s stablecoin ecosystem. This launch will allow users to leverage USD Coin across the TRX network, enhancing cross-chain functionality for a seamless and secure transaction. Tron-Peg USD Coin will simplify USDC transfers within Ethereum and Tron, establishing itself as a stablecoin bridge. Moreover, qualified users can acquire the Tron-Peg USD Coin through a straightforward cross-chain process. This strategic launch comes when Tron’s price performance has recorded a weekly dip of over 3% to trade around the $0.16 mark. If Tron’s price manages to overcome the $0.16 position, it would be on a path for further gains towards $0.17. Its RSI is also at 47, which suggests that the asset is still in a neutral position. Its 50—and 100-day SMAs, which are at $0.1593 and $0.1526, provide significant support should the TRX price dip. Can Cutoshi Mirror BTC Price Performance In Q4? As Bitcoin continues to experience significant price performance, Cutoshi is also looking to push Ethereum-based meme coins back into the limelight. Due to the project's DeFi ecosystem and built-in utilities, its growing presale is set to record significant price performance in Q4. For more information on the Cutoshi (CUTO) Presale: https://cutoshi.com/ Join and become a community member: https://twitter.com/CutoshiToken https://t.me/cutoshi Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings. Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets. Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone. Contact Details Cutoshi hello@cutoshi.com Company Website https://cutoshi.com/

November 14, 2024 10:42 AM Eastern Standard Time

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The Evolution of Bingo: From Halls to Online Platforms

Acroud Media

Bingo, a game of chance that has entertained millions, has undergone significant transformations since its inception. From its early days in Italian lotteries to the bustling bingo halls of the mid-20th century, and now to the digital platforms of the 21st century, bingo's evolution is a fascinating journey. Origins and Early History Bingo's roots can be traced back to Italy in the 16th century. Known as "Il Gioco del Lotto d'Italia," it was a form of lottery that quickly gained popularity. By the 1700s, the game had spread to France, where it was called "Le Lotto" and was primarily played by the aristocracy. The game continued to evolve as it moved across Europe, reaching Germany, where it was used as an educational tool to teach children numbers and history. Bingo in the United States The game made its way to North America in the early 20th century, where it was initially known as "Beano." Players would mark their cards with beans, and a caller would shout out numbers. The name "Bingo" was coined when a player excitedly yelled "Bingo!" instead of "Beano" upon winning. This version of the game was popularized by Edwin S. Lowe, a toy salesman who saw its potential and began marketing it widely. The Golden Age of Bingo Halls Bingo's popularity soared in the mid-20th century, particularly in the United Kingdom and the United States. The Betting and Gaming Act of 1960 in the UK legalized large cash prizes, leading to the establishment of numerous bingo halls. These halls became social hubs, where communities gathered for entertainment and socialization. The game was not just about winning money; it was about the camaraderie and the thrill of the game. Decline of Traditional Bingo Halls Despite its popularity, the late 20th century saw a decline in traditional bingo halls. Several factors contributed to this downturn, including high taxes, the smoking ban, and the rise of alternative forms of entertainment. The number of bingo halls in the UK, for example, dropped significantly from nearly 600 in 2005 to under 400 by 2014. The Rise of Online Bingo The advent of the internet brought a new era for bingo. Online bingo platforms began to emerge in the late 1990s and early 2000s, offering players the convenience of playing from home. These platforms replicated the traditional bingo experience while adding new features such as chat rooms, themed games, and various bingo formats. The accessibility and variety of online bingo attracted a new generation of players, revitalizing the game. If you are interested in online bingo sites check out the dedicated review at cityam.com. Modern Bingo: A Blend of Tradition and Innovation Today, bingo continues to thrive both online and offline. While traditional bingo halls still exist, they often incorporate modern technology to enhance the player experience. Online bingo platforms have expanded to include mobile apps, allowing players to enjoy the game on the go. Additionally, the integration of social media features has made online bingo a more interactive and engaging experience. Conclusion The evolution of bingo from its humble beginnings in Italian lotteries to the digital platforms of today is a testament to its enduring appeal. Whether played in a bustling hall or on a smartphone, bingo remains a beloved game that brings people together. Its ability to adapt and innovate ensures that it will continue to entertain and engage players for generations to come. Contact Details Acroud Media info-media@acroudmedia.com

November 14, 2024 05:01 AM Eastern Standard Time

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Cutoshi Hits #1 Worldwide And In The USA – The Hype Behind $CUTO’s Explosive Growth

Cutoshi

Cutoshi, a memeFi project in presale, took X by storm yesterday as it went viral and took the number 1 trending spot worldwide and in the USA, for over 8 hours. This hype also spread worldwide, as $CUTO became the trending keyword for all countries. The term DeFi was also trending worldwide yesterday, showing that Cutoshi is proving itself to be one of the hottest decentralized crypto projects around. Meme Appeal Cutoshi is cute and catchy, bringing Lucky Cat energy to the blockchain and people’s digital assets. As crypto booms thanks to new all-time highs for Bitcoin, memecoins continue to dominate the market as the most profitable and engaged-with sector in crypto. And as of today, the meme coin market cap is at $105 billion according to CoinMarketCap, with a 24 hour trading volume of $60 billion. That shows us that a lot of people are trading memes right now. DOGE has been on a tear and has also been trending on X since the US elections, proving the enduring nature of important memecoins. MemeFi Hybrid Approach While DOGE has a first mover advantage as a memecoin, Cutoshi is new and in presale. There is another important difference between the two coins - utility. Dogecoin doesn’t have utility, or at least very little (it's accepted as payment in certain places, according to their website). Cutoshi, on the other hand, does. Cutoshi is currently building a cross-chain DEX to simplify swapping and trading on the blockchain, and a whole ecosystem revolving around the benefits of DeFi. The aim is to introduce people to DeFi and then help them to make the most out of it, and that’s why they are offering a learning academy to help people find out more in a fun way. $CUTO will be used throughout the ecosystem, ensuring that the token has true utility, which is essential for ensuring the price moves in the right direction. Fun And Community Is Key All good crypto projects have a loyal community. Decentralized exchanges like Uniswap and 1inch clearly have a loyal community. Cutoshi is currently engaging their growing community through quests and challenges such as meme-making. And because people love the fun of competition, they have built a leaderboard so that people can spur each other on. These quests accrue points, which will be swapped for $CUTO tokens, airdropped once the coin goes live. This ensures that all early community members are rewarded for their participation and can have more skin in the game. Over 1500 people have taken part in the quests within days of launch. Cutoshi Investors Are Early As anyone who’s taken a look at meme coins like Dogecoin and Shiba Inu knows, the ones who got in early profited the most, with DOGE up by an impressive 435,594% since its launch and SHIB up by an amazing 42,665,342%. Just $10 invested at this time in SHIB would have made a current holder over $4 million dollars! Although returns like this are exceptional, new coins are the way to get huge gains. Cutoshi is currently in presale phase; given the hype around it, it could be the next life-changing coin for wealth generation. For more information on the Cutoshi (CUTO) Presale: https://cutoshi.com/ Join and become a community member: https://twitter.com/CutoshiToken https://t.me/cutoshi Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings. Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets. Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone. Contact Details Cutoshi hello@cutoshi.com Company Website https://cutoshi.com/

November 13, 2024 10:09 AM Eastern Standard Time

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SPARK Microsystems Redefines Wireless Gaming with New 8K Mouse Reference Design

SPARK Microsystems

SPARK Microsystems, a Canadian fabless semiconductor company specializing in next-generation short-range wireless communications, today announced the release of its 8K gaming mouse reference design, supporting polling rates up to 8,000 Hz. Built for high-performance gaming and esports, this new design harnesses SPARK’s SR1020 ultra-wideband (UWB) wireless transceiver, offering a wireless gaming experience that matches the performance of wired solutions. The 8K mouse reference design is specifically engineered to meet the needs of competitive gamers, offering the seamless, high-speed responsiveness typically associated with wired mice. SPARK’s UWB technology delivers ultra-low latency of 0.2 ms and remarkably low power consumption – 30% or more lower than 2.4 GHz gaming mice at 8,000 Hz. SPARK’s technology outperforms traditional wireless standards by avoiding interference with the congested 2.4 GHz spectrum, ensuring an uninterrupted gaming experience free from the lag and delays often found in traditional wireless solutions. “Our focus at SPARK is on delivering practical innovations in short-range wireless communications, making it faster, more efficient, and seamlessly responsive" said Dr. Abdul Hafiz Alameh, PhD, Director of Product Marketing, SPARK Microsystems. "Our 8K mouse reference design, powered by the SR1020 UWB transceiver, provides industry-leading performance —offering a gaming experience indistinguishable from wired solutions.” Key features of SPARK’s 8K gaming mouse reference design include: Polling Rate: Unmatched smoothness and responsiveness with configurable polling rates up to 8 kHz. Ultra-Low Latency: Latency of 0.2 ms ensures a real-time response indistinguishable from wired solutions. Low Power Operation: Significantly reduced power consumption for extended battery life and smaller battery sizes. Low Interference: Operates outside congested frequency bands, avoiding the performance bottlenecks of traditional wireless systems. The new 8K gaming mouse reference design showcases the SR1020 UWB transceiver’s advanced capabilities, allowing for sustained high data rates while consuming minimal power. Gamers benefit from longer battery life and lighter, more agile designs, all without sacrificing performance. The design is part of SPARK’s growing ecosystem of reference designs, aimed at enhancing wireless capabilities in gaming, consumer electronics, and IoT markets. About SPARK Microsystems SPARK Microsystems is building next generation short-range wireless communication devices. SPARK provides high data rate and very low latency wireless communication links at an ultra-low power profile, making it ideal for personal area networks (PANs) used in mobile, consumer and IoT-connected products. Leveraging patented technologies, SPARK Microsystems strives to minimize and ultimately eliminate wires and batteries from a wide range of applications while delivering a wired-like performance. For more information, please visit www.sparkmicro.com. Contact Details Jenna Beaucage +1 508-340-6851 jbeaucage@rainierco.com Company Website https://www.sparkmicro.com

November 13, 2024 09:33 AM Eastern Standard Time

Analysis of Top U.S. Sportsbooks Shows Long College Football Suspension Times When Compared to NFL According to Sports Odds Intelligence Firm Bettormetrics

Bettormetrics

Bettormetrics, a sports odds intelligence firm providing competitive sports odds data and insight to the sports betting industry, today released their latest report, a one-week comparison of suspension times between top operators during week eight of the college football season and week nine NFL games. The analysis found that while operators exhibit short suspensions during NFL games, there are still significant improvements to be made on suspension times during college football games. Suspension is when a sportsbook periodically shuts down betting lines in a sporting event to readjust the odds based on activity within the event, while uptime is the amount of time they are accepting live wagers during the game. Bettormetrics’ analysis found that DraftKings and FanDuel were suspended for the least and second least amount of time during NFL games, respectively, and the two operators flipped when it came to college football – with FanDuel leading the operators that were analyzed. DraftKings, who was previously noted as a market leader in past Bettormetrics’ reports on NBA and NFL season-long suspension times, suffered the biggest drop off during college games when compared to its NFL suspension times. On average, operators' suspension times were 8.7% worse during college games. Hard Rock saw the smallest drop in performance in comparison. “The NFL is clearly the American bettor’s favorite competition so it is only a matter of time before sportsbooks shift their focus to its younger sibling, college football, seeking improvements in suspension, uptime and overall trading performance,” said Sabin Brooks, Bettormetrics’ Chief Revenue Officer. “Those who master suspension in college games will ultimately come out on top. Doing so is a win-win because the bettor will have an improved betting experience meaning they will keep coming back and the operator will be able to bring in more handle, meaning a fly wheel of better product, customer experience and sportsbook profitability.” “While there are challenges with the availability, quality and speed of scouting data for college football, there is clear demand for betting on NCAA football. As such, operators are going to need to find solutions to overcome the tremendous suspension differences between the NFL and college football,” said Robert Urwin, Bettormetrics’ co-founder and CEO. “While we recognize that there are significantly more college games every weekend during football season than NFL, there is work to be done. With an estimated gross gaming revenue of over $800 million coming in during college football season, sportsbook operators will continue to lose out on potential revenue unless suspension times are addressed.” ABOUT BETTORMETRICS Bettormetrics is an innovative company providing competitive sports odds intelligence and insight to the sports betting industry. Bettormetrics’ Trading Analytics Platform is a SAAS product supporting sportsbook trading desks with cutting edge insight and analysis on the entire event life cycle, helping sportsbooks, data suppliers and B2B platforms gain an edge on competitors and ensure no profits are left on the table. For more information, please email info@bettormetrics.com or visit Bettormetrics.com. Contact Details Bailey Irelan birelan@hotpaperlantern.com Company Website https://bettormetrics.com/

November 13, 2024 08:51 AM Eastern Standard Time

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Blackrock Bitcoin ETF Sees Outflow After U.S. Election Results, Tron Integration Causes A Stir As Cutoshi Hits $800K Mark

Cutoshi

Blackrock Bitcoin ETF Sees Outflow After U.S. Election Results, Tron Integration Causes A Stir As Cutoshi Hits $800K Mark The US presidential election race is over, and the atmosphere in the crypto market is one of glee as the market warms up to the news of Donald Trump’s presidency. Bitcoin (BTC), as expected, was one of the first to hit new heights, and the rest of the market followed accordingly. But prior to all that spike in the BTC price, Bitcoin ETFs were on a streak of outflows. Even Tron (TRX) is yet to join the profit train, but Cutoshi (CUTO) is trending among traders. Despite Bitcoin Price Surge, Bitcoin ETFs Dip The US elections were supposed to be a boost to the Bitcoin ETFs, but unlike the Bitcoin price, they were on a dip in the run-up to the election. The iShares Bitcoin Trust led the losses at the start of the week, with $44.2 million in outflows even before election day. BlackRock and ten of the other ETFs posted $116.8 million outflows on election day, led by the Fidelity Wise Origin Bitcoin Fund. It was a rare occurrence for most of the ETFs, especially BlackRock stating only its sixth day of loss since its launch in January. Their fortunes changed with the election results, when the BTC price broke past its $75,000 resistance. The Bitcoin ETFs recorded over a billion dollars in inflows on election day, with BlackRock seeing injections up to $1.1 billion on that day. The next few days will be crucial as the market anticipates further surges in the BTC price. Tron Integrations See Chainlink Oracle Links And ETH-TRX Bridges Tron (TRX) founder Justin Sun announced the introduction of Chainlink's oracle feeds to the Tron blockchain to increase security to its DApps, typically JustLend and JustStable. Both DeFi apps are worth about $6.5 billion on the network. Sun made the statement at the Chainlink SmartsCon event in Hong Kong, of which Tron (TRX) was a silver sponsor. The founder stated that the TRON crypto network was going to join in the Chainlink Scale Program, integrating the oracles to also provide developers with access to reliable oracle services, as well as opportunities for the stablecoins and RWAs locked on the blockchain. For the USDC on Tron (TRX), there are new bridges connecting the network with Ethereum through the TRON-Peg USD coin. The token facilitates smoother stablecoin transfer between both chains, contributing to the growing wave of interoperability that is taking over the DeFi space. The TRON price is currently trading at a weekly 3.59% loss, but the new development on the project could soon drive the TRON price into bullish trends. Cutoshi: Meme Coin Combined With DeFi Utilities Cutoshi’s origin is firmly rooted in meme and DeFi, sporting the lucky charm the Lucky Cat and blockchain principles from Bitcoin (BTC) creator Satoshi Nakamoto's teachings. The Decentralized Exchange platform is an avenue for users, especially the meme enthusiasts on the ecosystem, to access token swap and exchange services without leaving the interface. The traffic and insecurity of current exchanges makes Cutoshi's DEX a great alternatives option for traders. Another standout feature of the Cutoshi (CUTO) project will be its token farming. Users earn tokens by participating in challenges and completing tasks to accumulate points. These points can then be redeemed into CUTO tokens to boost investors' crypto portfolios. The token farming is already live, and more than 1500 users are already actively raking in rewards. The $CUTO token presale has raised over $800,000 so far. This traction doesn’t look like it’s going to slow down anytime soon. CUTO Attracts Massive Investors Inflow Bitcoin (BTC) and TRON (TRX) have experienced contrasting fates recently. The Bitcoin price is touching new highs, and TRX is still deep in bullish waters with TRON’s recent integration. The Cutoshi project is attracting investor interest with its presale and CUTO farming features that let users earn while having fun. The new meme coin could potentially deliver bigger gains than other top meme coins. For more information on the Cutoshi (CUTO) Presale: https://cutoshi.com/ Join and become a community member: https://twitter.com/CutoshiToken https://t.me/cutoshi Welcome to Cutoshi, the revolutionary meme coin, DeFi hub and educational platform inspired by the Lucky Cat and Satoshi Nakamoto’s teachings. Traditionally, people put the Lucky Cat in their homes and businesses to maximize its lucky powers and bring them good fortune and wealth. Now Cutoshi the Lucky Cat is on the blockchain bringing luck, prosperity, and wealth to your digital assets. Cutoshi is creating a path to financial freedom, for those who choose to honor the power of the Lucky Cat. Supporting the principles of freedom, privacy, anonymity, and monetary empowerment for the masses. Cutoshi aims to bring the benefits of blockchain to everyone. The regulatory environment surrounding cryptocurrencies is evolving and varies across jurisdictions. It is your responsibility to ensure compliance with applicable laws and regulations in your country or region before engaging with Custoshi. Contact Details Cutoshi hello@cutoshi.com Company Website https://cutoshi.com/

November 13, 2024 06:45 AM Eastern Standard Time

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News Release

Top 5 Online Slot Games You Must Try

Acroud Media

Online slot games have become a staple in the world of online casinos, offering players a mix of excitement and entertainment. Here are five online slot games that stand out and are definitely worth a spin. These games are often offered as part of free spins and no deposit free spins bonuses, click here to learn more. 1. Starburst (NetEnt) Starburst is a classic in the online slot world, known for its vibrant colours and simple yet engaging gameplay. This game features a 5-reel, 10-payline setup and is famous for its expanding wilds. The game's low volatility makes it perfect for beginners and those who enjoy frequent, smaller wins. 2. Gonzo’s Quest (NetEnt) Gonzo’s Quest takes players on an adventure with the Spanish conquistador, Gonzo, in search of El Dorado. This game is renowned for its Avalanche feature, where winning symbols explode and new ones fall into place, potentially leading to multiple wins from a single spin. The game also offers free fall bonuses and multipliers, adding to the excitement. 3. Book of Dead (Play’n GO) Book of Dead is a high-volatility slot that has gained a massive following. Set in ancient Egypt, players join the adventurer Rich Wilde in search of treasures. The game features a 5-reel, 10-payline setup with expanding symbols during the free spins round, which can lead to substantial payouts. Its high-risk, high-reward nature appeals to thrill-seekers. 4. Big Bass Bonanza (Pragmatic Play) Big Bass Bonanza is a fishing-themed slot that has quickly become a favourite among players. This game offers a 5-reel, 10-payline setup and features a free spins round where players can catch fish symbols for cash prizes. The game's medium volatility provides a balanced mix of frequent wins and the potential for bigger payouts. 5. Mega Moolah (Microgaming) Mega Moolah is legendary for its progressive jackpot. This African safari-themed slot features a 5-reel, 25-payline setup and offers four progressive jackpots. The game’s bonus wheel can trigger the Mega Jackpot, which starts at £1 million and can grow significantly higher. Conclusion These five online slot games each offer unique features and gameplay experiences, making them must-tries for any slot enthusiast. Whether you prefer the classic feel of Starburst, the adventurous spirit of Gonzo’s Quest, the high stakes of Book of Dead, the fun theme of Big Bass Bonanza, or the life-changing potential of Mega Moolah, there's something here for everyone. Contact Details Acroud Media info-media@acroudmedia.com

November 12, 2024 04:48 AM Eastern Standard Time

Smart Glasses To Reach Nearly $16 Billion By 2027

Benzinga

By Johnny Rice, Benzinga Eyal Peso, co-founder and CEO of Gauzy (NASDAQ: GAUZ) and Joseph Harary, president and CEO of Research Frontiers (NASDAQ: REFR), were recently guests on Benzinga’s All-Access. The two discussed the boom in smart glass technology and its exciting future. Gauzy is a fully-integrated light and vision control company focused on the research, development, manufacturing and marketing of vision and light control technologies. This tech aims to support safe, sustainable, comfortable and agile user experiences across various industries. Research Frontiers is the developer of patented SPD-Smart light-control film technology which allows users to instantly, precisely and uniformly control the shading of glass or plastic products, either manually or automatically. Watch the full interview here: Featured photo by GianCarlo Greco on Unsplash Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 11, 2024 08:45 AM Eastern Standard Time

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Innovation Beverage Group Offers Zero-Alcohol Range As Non-Alcoholic Beverages Market Grows

Benzinga

By Kyle Anthony, Benzinga Society’s tastes and preferences are constantly changing; as such, the most forward-thinking companies strive to anticipate where new preferences may manifest and to be present for interested consumers. In the beverage industry, non-alcoholic beers and wines are gaining prominence amongst consumers, opening the pathway for beverage producers to offer new and refreshing products akin to alcoholic beverages, but without their undesirable effects or long-term health consequences. Striving to become a key player in the non-alcoholic beverage market, Innovation Beverage Group (NASDAQ: IBG) stands out as a developer, manufacturer and marketer of a diverse beverage portfolio. With 60 formulations across 13 alcoholic and non-alcoholic brands, the company is striving to be at the forefront of catering to evolving consumer preferences. The Growth Of The Non-Alcoholic Beverage Market According to research by Introspective Market Research (IMR), the global non-alcoholic beer and wine market was estimated at $22.65 billion in 2022 and is projected to reach $37.21 billion by 2030, growing at a CAGR of 6.4%. While once considered a niche market, non-alcoholic beers and wines have become a material opportunity for beverage producers, but why is the question? The answer is varied. While changes in societal preference and attitudes toward alcohol consumption is an overarching rationale, there are other reasons many people are making this change. As detailed in IMR’s report, the rising health consciousness among consumers is arguably the primary reason behind the growth of the non-alcohol beer and wine market. With growing awareness about the health implications of excessive alcohol consumption and lifestyle movements such as Sober Curious, individuals, particularly millennials, are driving demand for this beverage category. The International Wine and Spirits Record (IWSR) recently reported that millennials are willing to try new products across the no-alcohol spectrum. Furthermore, almost half of millennial no-alcohol consumers are classed as ‘substituters’ – in other words, those who drink no-alcohol products on some occasions, and full-strength on others – and they are also disproportionately frequent no-alcohol consumers, accounting for 51% of frequent no-alcohol consumers in the US, and 47% of consistent consumers. Technology and product innovation are also driving the growth of the non-alcoholic beverage category. As outlined in the IMR report, leading companies are making the necessary investments to compete in this category, using industry-leading processes, such as vacuum distillation and fermentation control, to create non-alcoholic beers and wines that closely replicate the flavor profiles of traditional alcoholic beverages. This technological advancement has played a crucial role in enhancing product quality and gaining consumer acceptance, propelling the market forward. Another important consideration aiding the growth of the non-alcoholic beverage category is regulation and accessibility. As highlighted in the IMR report, in regions such as Europe, where non-alcoholic beverages are not subject to excise duty, the cost advantage can boost market growth by lowering consumer prices, enhancing affordability, and stimulating demand. Furthermore, being able to brand a product as “0% alcohol-free” offers a potential competitive advantage, enabling producers to position them as healthier options. The alcohol-free designation allows food delivery platforms, such as Uber (NYSE:UBER) or DoorDash (NASDAQ:DASH), to facilitate the sale and distribution of these products to consumers easily, as there is no requirement to show any identification to verify a purchaser's age for such products. Attaining Success In The Non-Alcoholic Beverage Category The non-alcoholic beverage category presents an opportunity for beverage producers to think differently and understand their consumers. Earlier this year, the Boston Consulting Group published a brief on the growth of the non-alcoholic beverage category, highlighting the factors that will aid beverage producers in gaining success. Top of the list was great products. In this increasingly competitive category, making a beverage with a distinct flavor profile and broad appeal is important. As such, beverage producers that invest in research and development have the potential to differentiate themselves. The second factor is brand perception. While it would be easy for established players to leverage their existing brand by making an alcohol-free version of their regular product as a means of entering the category; that may not have any staying power in the long run. As such, beverage producers need to be intentional and thoughtful as they enter the category, creating distinct brands. Finally, customer knowledge is also key. Societal preferences are ever-changing, as such, being able to identify these trends and align one’s product messaging and marketing to them is truly powerful. With individuals becoming more health-conscious or being more mindful and aware of their consumption habits, beverage producers are able to market their non-alcoholic beverages to individuals on the basis of their belief and lifestyle. IBG’s Drummberboy; A Non-Alcoholic Spirit For Those That Want To Forge Their Own Path Discussions about the non-alcoholic beverage category lean towards beer and wine, as such, IBG has attempted to differentiate themselves from the field with their Drummerboy non-alcoholic spirits, which include whiskey, tequila, gin, vermouth and aperitif. Four of out the five drinks have been awarded by the Melbourne International Spirits Competition (2022) and International Wine & Spirits Competition (2023). From a brand perception standpoint, Drummberboy actively leans into its non-alcoholic nature with the tagline “Zero Alcohol, Zero Cares Given.” Finally, the IBG has found ways to promote and align the product with consumers digitally, by way of having mocktail recipe guides on their website and tutorials on YouTube. A Distinctive Company With An Eye On The Future IBG wants to disrupt the beverage landscape by making quality an attribute across its versatile product offerings. Drummerboy is an example of the firm’s ability to do so, particularly in the fast-growing non-alcoholic beverage category. As IBG makes its way into the U.S. market, leveraging its potential competitive advantages of proprietary technology and vertical integration, the firm hopes to continue to bring to market more distinct and premium beverage offerings for consumers to enjoy. For more information on IBG's recent corporate activities and developments, read about their recent executive appointment and partnership with Sysco (NYSE: SYY), a leader in foodservice distribution. Featured photo by Aleksandar Andreev on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

November 08, 2024 08:45 AM Eastern Standard Time

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