What's Driving DatChat Shares Higher Today?

DatChat Inc DATS is trading higher Tuesday after the company announced it initiated the development of a new platform that will leverage DatChat technology to share and protect NFTs, documents, audio and video files and messages.

The platform development will be led by DatChat's chief blockchain architect Mark Mathis. Mathis will focus on leading DatChat's web 3.0 and metaverse initiatives.

"The construction and implementation of this innovative platform is a critical step in DatChat’s strategic growth plan," said Darin Myman, CEO of DatChat. "By utilizing our proprietary technology, our platform will allow users to safeguard their data and digital assets in a completely decentralized environment."

DatChat also announced that it expanded its development capabilities by hiring three senior developers with iOS and Android experience, as well as blockchain, messaging and metaverse development experience. 

See Also: Why Peloton Shares Are Trading Lower Today

DatChat is a communication software company focused on its mobile messaging application, which provides a traditional messaging platform while providing users with complete privacy and control features for their sent messages.

DATS Price Action: DatChat has traded as low as $2.28 and as high as $18.50 over a 52-week period.

The stock was up 19.6% at $2.87 at time of publication.