(NEW YORK)--Vectorspace AI receives upgrade with 'speculative' target of $0.75 to $1.00 for their 'smart basket' token (VXV) based on potential demand, and current low market valuation.
VXV currently has around 50 million tokens, with only about 18 million of those tokens currently in circulation. Based on float of 18 million, and price around $0.10 USD, that gives VXV a market value roughly around $1.8 million.
As example, Bitcoin itself has a current market cap of around $131 billion, with many other smaller altcoins trading in the tens to hundred of millions market cap range. So when comparing VXV value with that of some lesser known 'altcoins' you can quickly see VXV is trading well below even speculative levels.
Potential Buyers and Demand
Potential buyers in VXV could fall anywhere from biomedical researchers, data science developers, or institutional trading firms. These developers would purchase an inventory of VXV tokens to utilizes the platforms technology to find hidden correlations in areas of medical research, media, or financial trading. More tokens you hold the higher number of application uses you can wield.
When looking at these groups together one can get a good idea how fast these small amount of tokens could come into high demand fairly quickly. If VectorSpace can close new collaboration partnerships then demand for their tokens could surge based on the small float, and ability to hold higher platform power by holding a higher inventory of tokens. This could quickly result in AI and data engineers rushing in the open market to grab what they can while price remain low.
Developing partnerships and collaborations will be key for VectorSpace (VXV) moving forward. Building these new partnerships will be up to management to execute, and based on their years of experience within the industry that could develop at any time.
As an example, the Company recently released a joint paper with NYSE listed ElasticSearch (NYSE:ESTC) in August of 2019 titled "Generating and visualizing alpha with Vectorspace AI datasets and Canvas".
This is just an sample of some of the partnerships the company could bring to the table. If they are able to potentially bring on say a medical research or institutional trading firm as partners the value for VXV tokens could change dramatically from that news alone.
Valuation Target $1.00
Based on VXV potential use in finding hidden correlations utilizing their 'smart basket' tokens, and possible demand from both data science developers and institutional trading firms, Ludlow Research issued VXV a 'speculative' short-term target of $0.75 to $1.00, which would equate to around $13 to $18 million market cap valuation.
How to Purchase VXV Token
The Company put together a detailed outline on Medium how investors, or potential data researchers, could purchase VXV token through. To find out more please visit https://medium.com/@492727ZED/vectorspace-ai-vxv-customer-on-boarding-instructions-61aff13b66a9
Current Quote on VXV Token:
About VectorSpace AI
Founded 2018 in San Francisco California and headquartered in Valleta, Malta, the team consists of scientific and technical founders with a well-known track record in Silicon Valley. Vectorspace AI maintains a deep understanding of the financial markets having developed algorithms for quantitative information arbitrage opportunities along with running public companies as well as advising hedge funds. Vectorspace AI holds a number of patents in the area of context-controlled Natural Language Processing (NLP) in collaboration with Lawrence Berkeley National Laboratory along with academics that have contributed to leading Google’s AI efforts. The platform has been registered by 300 enterprise customers that include Machine Learning (ML) companies, hedge funds, trading desks, asset management companies, technology partners and data vendors. All customers consume Vectorspace AI’s alternative dataset building and ‘feature engineering’ platform which provides on-demand datasets and features for NLP, ML and AI operations. www.vectorspace.ai