Tea, juice, and vape firms add ‘blockchain ’ to their names to profit on bitcoin mania
Tea, juice, and vape firms add ‘blockchain ’ to their names to profit on bitcoin mania

This morning, Manhattan Iced Tea, A New York-based totally beverage maker, announced it used to be changing its identify to Lengthy Blockchain Corp. The Company ’s relation to cryptocurrency is doubtful — it says it is going to “leverage the benefits of blockchain technology” — but it surely used to be quickly rewarded with a TWO HUNDRED p.c bounce in stock worth at the commencing of trading.

New York Iced Tea isn ’t the primary or even the strangest company to try cashing in on the bitcoin craze. As bitcoin ’s price skyrocketed prior $15,000 in advance this month, a couple of firms have rewritten their identify or project commentary to reference blockchain generation or cryptocurrency. just a point out of bitcoin seems enough to woo buyers and get media consideration (together with, now, this tale).

Bloomberg noted a number of of the stranger rebranding efforts: sports activities bras, juice, and e-cigarette companies that seem to have had little or no to do with bitcoin previously.

Beforehand referred to as SkyPeople Fruit Juice, the Hong Kong-based totally corporate renamed itself Future FinTech Team Inc. In Spite Of the new label, the company still makes packaged meals and, in its November presentation to buyers, made mention of its plans to expand kiwi and orange plantations.

Every Other corporate, The Crypto Company, in reality offers in cryptocurrency but went public by means of acquiring a sports activities bra corporate. The Crypto Corporate had its stock suspended by the SEC on Tuesday, bringing up concerns approximately accuracy and “potentially manipulative transactions.” the public sports bra company it got had declared moderately ambitiously on its website online that its bras have been going to have wallet for containing money, chapstick, and IDENTIFICATION, a tiny phone charger, and mace.

Then within the vaping business, the California-based totally Vapetek Inc. has made up our minds to rename itself Nodechain Inc. and says it’ll discover Bitcoin, Ethereum, and different cryptocurrencies. Nodechain says it has many GPU mining rigs it bought from US providers and estimates that it is going to be able to pull in around $500 in ethereum or in bitcoin according to rig on a daily basis. The publicly traded corporate additionally changed its site domain from Vapetek.com to Nodecha.in.

in a single of the extra excessive circumstances, a Hong Kong staff called Ping Shan Tea Crew Restricted, which, as its identify advised, makes tea, has redefined itself as Blockchain Workforce Co Ltd. Its web page now incongruously displays a sleek blockchain emblem along massive stretches of a tea plantation.

Like Ping Shan, now Blockchain Staff, Lengthy Blockchain Corp. is going to proceed making tea despite its new identify. It ’s all reminiscent of yesteryear ’s dot com bubble whilst random corporations might upload dot com to their names.