VAYK Announces Name Change to "Great Estate Blockchains Inc"
Rhea-AI Summary
Vaycaychella (OTC:VAYK) announced its plan to change its name to Great Estate Blockchains, Inc., marking a strategic shift towards monetizing intangible assets of historic landmarks through cryptocurrency and blockchain technology.
The company estimates the potential market for historic landmark intangible assets could reach up to $1 trillion, with approximately 1.5 million properties on the National Register. VAYK is currently working on two major projects: the renovation and management of the Rufus Rose house in Atlanta and negotiations for intangible rights to a historic landmark in New York City.
The initiative combines cryptocurrency strategies with short-term rental operations, leveraging NFTs based on their recently acquired $2.5 million historic landmark property.
Positive
- Strategic repositioning into the untapped historic landmark monetization market worth potentially $1 trillion
- Agreement to renovate and manage the valuable Rufus Rose house in downtown Atlanta
- Ongoing negotiations for acquiring rights to a multi-million dollar NYC historic landmark
- Development of innovative NFT-based monetization model for historic properties
Negative
- Significant execution risk in implementing new cryptocurrency and blockchain strategy
- Uncertainty in valuation and monetization of historic landmark intangible assets
- Limited track record in blockchain technology implementation
News Market Reaction
On the day this news was published, VAYK gained 18.75%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"There are one and a half million properties on the National Register as historic landmarks, and probably 10 times more on state and local registers as historic landmarks. Each of them may have an intangible value ranging from tens of thousands of dollars to a few million dollars," explained Jason Armstrong, CEO of Vaycaychella. "If the average intangible value of a National Register historic landmark is around
Prominent historic landmarks can usually monetize their intangible value from tourism and sales of franchised commodities, such as books, videos, and souvenirs. However, for the majority of historic landmark properties that lack prominent status, their intangible value is usually under-monetized or not monetized at all.
In the past two years, Vaycaychella management has been working with its partners and potential investors to develop a business model, which will combine a cryptocurrency strategy with a short-term rental strategy to monetize the intangible value of these historic landmarks.
"We have always been pioneers in exploring the potential of applying cryptocurrency strategies to daily business operations," stated Jason Armstrong, CEO of Vaycaychella. "In March 2022, the previous management acquired Definancial, Inc., a technology firm developing cryptocurrency exchange solutions. After the new management team took over in 2024, we planned to release crypto-based Non-fungible Tokens (NFTs) based on our newly acquired rights to a
The company believes that it is ready to launch this new business model. The name change is its first step. Besides the name change, the company is expanding its portfolio of historic landmarks. The company is currently under agreement to renovate and manage the famous Rufus Rose house, a multi-million dollar historic landmark in downtown
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
VAYK Contact:
Contact@Vaycaychella.com
View original content:https://www.prnewswire.com/news-releases/vayk-announces-name-change-to-great-estate-blockchains-inc-302566124.html
SOURCE Vaycaychella, Inc.
FAQ
What is the reason for VAYK's name change to Great Estate Blockchains?
How many properties does VAYK target in their historic landmark strategy?
What is the estimated market value of historic landmark intangible assets according to VAYK?
What major properties is VAYK currently pursuing?
How does VAYK plan to monetize historic landmark properties?
