Cryptocurrency Markets Improve as Bitcoin Hits a Three-Week High - Seite 3

Gino M. Pereira, the President and CEO of NXT-ID, Inc. (NASDAQ: NXTD) recently discussed the company's overall business strategy, its subsidiaries LogicMark, LLC and Fit Pay, Inc. and how the company's payment technology has evolved from the Wocket to flye and now Flip, its new contactless payment device created for the cryptocurrency market. NXT-ID Inc.'s upcoming Flip™ will enable customers to pay with bitcoin wherever near field communication (NFC) payment options are accepted, according to company President and CEO, Gino Pereira.  Flip is a product under which we provide a crypto-wallet, that individuals can deposit bitcoin," he said. "That bitcoin is converted into what is essentially a prepaid debit card, that is then available for use to spend as cash anywhere that accepts NFC payments."  Flip, which will operate on NXT-ID's FitPay platform, will initially only support bitcoin and the U.S. dollar. Pereira said the company plans to expand to other options after the rollout, however.

According to an article published on Motley Fool, during the third quarter of 2017, NVIDIA Corporation (NASDAQ: NVDA) reported that it had generated $70 million in cryptocurrency-related revenues, which accounted for just 3% of its top line. However, that represented a 53% sequential drop from $150 million in the second quarter, and indicated that demand for the GPUs -- which are mainly used to mine alternative cryptocurrencies -- was leveling off. CEO Jensen Huang noted that crypto-related revenues were "small for us, but not zero" during the conference call.  Meanwhile, NVIDIA's gaming GPU revenues rose 25% annually to $1.56 billion, or 59% of the chipmaker's total revenues for the quarter. Therefore, even if cryptocurrencies lose their luster, declines in crypto-related sales would be easily offset by sales of GPUs for its core gamers.  NVIDIA is also posting impressive growth in the data center market, where its high-end Tesla GPUs are being used for machine learning purposes, and connected cars, where its Tegra CPUs power infotainment, navigation, and driverless systems in high-end vehicles. That's why analysts expect its revenue and earnings to respectively rise 37% and 64% for the full year.