The move comes as Avalanche sees rising activity in gaming and new institutional products, with backers including Hivemind, Galaxy and Kraken.
Shares of AgriFORCE Growing Systems surged more than 200% at Monday’s open after the agricultural technology company announced a pivot into an AVAX digital asset treasury model.
The company will rebrand as AVAX One and aims to raise $550 million to build a treasury centered on Avalanche (AVAX), the native token of the Avalanche blockchain.
According to a Monday press release, the company’s goal is to accumulate more than $700 million in AVAX tokens. As a long-term strategy, it also plans to acquire and integrate revenue-generating fintech businesses into the Avalanche network.
