2021-08-26 03:00 ET - News Release
Toronto, Ontario--(Newsfile Corp. - August 26, 2021) - Datametrex AI Limited (TSXV: DM) (FSE: D4G) (OTCQB: DTMXF) (the "Company" or "Datametrex") is pleased to announce that the Company has entered into a $250,000 contract with a Canadian tech company on an Artificial Intelligence ("AI") contract and received the first 50% payment on August 23.
Under the contract, the Company will be deploying its Nexology AI, Nexa Inteligence, that will allow for deepened analysis and understanding of social media influencers related to crypto assets including altcoins. Nexa lnteligence is a social-media discovery and monitoring platform for those who need to extract actionable insights out of discussions to inform decision-making. The system collects and analyses data from Twitter, Facebook, Tumblr, blogs, web forums, online news sites, Google Alerts and RSS feeds. With it, you'll be able to make qualitative analyses based on both quantitative and qualitative data.
Many investor eyes have turned to the subject of crypto on social media which can have impact on crypto markets and the price rise of a specific coin, sometimes even despite poor business indicators. Companies are looking to find these influencers to engage and an get an understanding of conversation sediment around Bitcoin and altcoins.
Social media is designed specifically to attract to whoever is reading it with algorithms, so when one sees a post from people who are like them, and speak in a way they can relate to, and they can join in the conversation, so they feel closer to the subject. This creates a problem as anyone can set themselves up as a financial influencer or finfluencer.
In April of this year, the United Kingdom's Financial Conduct Authority ("FCA") warned social media sites that it may take action if they continue to allow the promotion of risky, and sometimes fraudulent, investments in crypto to inexperienced investing consumers.
"Companies are looking to AI to help connect there business to their services by getting a leg up on who is saying what on social media and pinpointing and summarizing crypto winners and losers and the meaning of conversations without human being input, but tapping AI," stated Marshall Gunter, CEO of Datametrex.