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CurrencyWorks: An Under-The-Radar, Crypto-Agnostic, Blockchain Pick-And-Shovel Play

Vision and Value profile picture
Vision and Value


  • Individual cryptocurrencies have an uncertain future and are difficult to value.
  • Blockchain, however, has legitimate utility for businesses and consumers.
  • CurrencyWorks is a pure-play pick-and-shovel blockchain company with exposure to various blockchain projects from mining, to NFTs, to corporate currencies.
  • The company has demonstrated significant expertise and leadership in its market.
  • The company's current market capitalization prices in little future success and expansion, and offers investors a good entry point into this speculative investment.

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da-kuk/E+ via Getty Images

In this article, we will analyze a nanocap company, CurrencyWorks (CWRK), and its unique positioning in the blockchain and cryptocurrency market as a pick-and-shovel play on the space. With a strong board and team of

This article was written by

Vision and Value profile picture
Investor and small business owner, mechanical engineer

Analyst’s Disclosure: I/we have a beneficial long position in the shares of CWRK either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (9)

On LinkedIn, the Founder/CEO lists 10 companies that he has co-founded and currently involved with. Several of them, he acts in a C-Suite capacity, include VUELE, the client of CWKR. The CFO lists seven companies on LinkedIn that he is currently involved with. I like the space, but your thoughts about all the involvements and interconnectedness?
Vision and Value profile picture
@LearnAndAdjust I wouldn't be concerned about the CFO being involved in all of those positions. CEO is a different matter. I think it's somewhat of a concern but if the CWRK team can execute then of course it doesn't matter.

There are potential conflicts of interest. However, Business Instincts Group and other networking groups actually serve as client lead sources. I think the things to watch are the key projects and if they continue to make substantial progress, and then additional clients.
grok42 profile picture
@LearnAndAdjust Useful comment. Personally I want execs that are 100% focused on making the company a success. These fellows sound more like venture capitalists, which is fine. But I would prefer they hire dedicated full time execs to run the company. It may be that is their intent and the company is just not far enough along to afford that. The other frequent problem from this situation is conflicts of interest where the interests of the execs do not align completely with the shareholders.

Having said that, it is hugely helpful to a startup to have highly experienced backers that bring a wide range of partners and customers into the equation.
@grok42 If I'm correct, they are taking equity in the projects they deliver. Can be a big value proposition into the Future of the project succeeds. Maybe that's why they are also on the board.
grok42 profile picture
Great article and I really like your examination of both sides of the investment thesis. CRWK, from your article, appears to be in the right place at the right time. There is a huge demand for crypto software expertise and companies in the space want to move very fast. I think it is also a plus that CRWK does not depend on bitcoin. It could do very well even if bitcoin stalls out or drops.

Will have to take a close look. From the article it appears management is less than transparent in regards to their contracts and there may be some conflicts of interest from the CFO partnering with FogDog where he is also the CFO.

Anyway, fascinating article and worth reading!!
Dividend Herder profile picture
How does this company compare to a company like $BLFDF?
Philip3 profile picture
@Dividend Herder Looks like another company with little income. CRWK seems to have more irons in the fire.
SlowHandLuke profile picture
Excellent article. As a first mover in the space CWRK expertise will be in big demand as this market develops.
Philip3 profile picture
Very in-depth article. It must be my age, but these companies are very hard to value. It's a new model, but 'feels' predicated on sentiment. $345k in last qtr revenue doesn't get me excited but the Nov call transcripts did. Agree, small speculative investment based on future plans and the stock price jump just before they announce another round of financing ;)
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