Source: Cloud Nine Web3 Technologies Inc.
Market Herald logo


Be the first with the news that moves the market
  • Cloud Nine Web3 Technologies Inc. (CNI) has provided a corporate update and investment outlook
  • Cloud Nine replaced its management team in Q1 and are developing a new strategy for 2022
  • It has also begun exploring partnerships and investment opportunities
  • The company’s core Limitless VPN has completed debugging and will relaunch in Q2
  • It has updated its website with information on its investee companies and technology
  • Cloud Nine Web3 Technologies Inc. (CNI) is down 5.45 per cent trading at $0.26 per share as of 1:25 p.m. ET.

Cloud Nine Web3 Technologies (CNI) has shared a corporate update and investment outlook for shareholders and other interested parties.

Cloud Nine is a leading decentralized network and data storage technology company offering investors the opportunity to be part of the Web3 technology revolution through its core ‘Limitless’ technology suite, strategic investment portfolio and partners.

Over the course of Q1, Cloud Nine has replaced its management team and conducted a review of the company’s existing technology portfolio. The company has developed a plan for the rest of 2022 and into 2023. Management has also begun to explore partnerships and investment opportunities with new and existing partners and investees.

The Limitless VPN is the first built with a focus on the Metaverse and Web 3 functionality. The Limitless VPN provides a free-of-charge alternative to mainstream subscription VPNs while simultaneously providing access to its larger decentralized infrastructure of peer-to-peer Web 3.0 users. Cloud Nine provides this service in exchange for access to underlying computer resources in the background not being used when a system sits idle.

Lucas Russell, President and CEO, commented,

“Cloud Nine is ready to move forward from an asset gathering vehicle to a revenue generating operational company… After the last month and a half of being with the company I am extremely pleased with the assets and tools available to us to create some meaningful revenues in 2022 and am even more excited to continue to work on some new applications of our Limitless Technology Suite.”

The company has recently completed debugging the VPN software and plans to relaunch and monetize the VPN.

Cloud Nine currently has a 16 per cent ownership interest in the company Next Decentrum. Next Decentrum is the launchpad for non-fungible token (NFT) products. Featuring its own proprietary NFT marketplace, Momentable, revenues are generating and expanding rapidly.

Cloud Nine has also recently updated its corporate website, including information about its investee companies and technology, a repository of news releases and an updated investor centre.

Cloud Nine Web3 Technologies Inc. (CNI) is down 5.45 per cent trading at $0.26 per share as of 1:25 p.m. ET.

More From The Market Herald

" Albemarle (NYSE:AB) gears up to invest US$1 billion in lithium plant

Albemarle (ALB) is gearing up to spend a significant amount of money as electric vehicle (EV) battery demand continues to accelerate.

" Silvercorp Metals Inc. Outperformed Peers in Q4 and Looking Strong for 2023

By Dr. Ryan D. Long

" NEO Battery Materials (TSXV:NBM) advances construction at South Korean commercial plant

Neo Battery Materials (NMO) advances construction at its South Korean commercial plant.

" Novo Resources (TSX:NVO) begins drilling at high-grade gold Catia prospect

Novo Resources (NVO) has begun drilling at the high-grade gold Catia prospect at its Bellary Dome Project in Australia.