Why Is Entertainment Company BloomZ Stock Jumping Premarket Friday?

BloomZ Inc. BLMZ shares are trading higher after the company disclosed a business alliance with CrossVision Inc., a Japanese digital entertainment company specializing in Web 3.0 technology.

BloomZ and CrossVision are teaming up to blend BloomZ’s animation and VTuber expertise with CrossVision’s Web 3.0 technology. The partnership aims to develop joint entertainment offerings.

The companies goal is to enhance fan engagement through blockchain and metaverse events, offering interactive digital content and virtual communities where users can own and trade digital items and experience live events in real-time.

BloomZ CEO Kazusa Aranami said, “Through this cooperation with CrossVision, we aim to use Web 3.0 technology to create new and engaging experiences, allowing our customers to interact with their favorite animation projects, VTubers, and each other.”

“We believe the integration of blockchain technology and digital assets will open new revenue streams, further strengthening our financial growth and enhancing shareholder value.”

Price Action: BLMZ shares are up 58.4% at $1.28 premarket at the last check Friday.

Image via Dall – E 3

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.