BIGG DIGITAL ASSETS INC. PROVIDES CORPORATE UPDATE ON BLOCKCHAIN INTELLIGENCE GROUP
Bigg Digital Assets Inc. has provided a full corporate update on the business and 2022 outlook.
Blockchain Intelligence Group capitalized on cryptocurrency's momentum in 2021. Timely advancements to product and investment in marketing resulted in boosted revenue. Significant wins were recorded across its suite of products and services, especially software sales.
In Q4 2021, Blockchain Intelligence Group recorded gross operating revenue of approximately $466,000, with 72 per cent from software sales, 27 per cent from training and 1 per cent from forensic consulting. Revenues increased 114 per cent year over year (YoY), with gross margin of approximately 89 per cent.
Blockchain Intelligence Group celebrated a banner year in 2021, reporting gross operating revenue of approximately $1.6-million, with revenue increasing 62 per cent over the prior fiscal year and gross margin of 88 per cent. Blockchain Intelligence Group is well positioned to expand its customer base and grow its revenue through 2022.
During the past 12 months, dozens of new software clients were added, such as a Fortune 500 bank, U.S. regional banks, VASPs (virtual asset service provider), a global management consultancy, KYC providers, accountants and independent investigators. New contracts were secured evenly throughout North America, Europe, Asia, Australia, Africa and South America. Training was delivered to dozens of organizations, such as federal agencies in the United States and Canada, a Fortune 500 telecom, VASPs, blockchain industry associations and others.
Blockchain Intelligence Group minted dozens of new strategic partnerships and reseller agreements in Hong Kong, Singapore, Taiwan, Barcelona, Sweden, the United Kingdom and the United States. Cryptocurrency price appreciation during 2021, which saw bitcoin and other coins reach all-time highs, has driven awareness in the digital asset sector. Blockchain Intelligence Group is the third most recognized blockchain analytics company globally by share of voice (SoV). SoV is a measurement of brand mentions in global media coverage. The top two blockchain analytics companies by SoV are both tech unicorns -- start-ups with valuations above $1-billion (U.S.).
Subject matter experts from Blockchain Intelligence Group delivered keynote speeches and demos at events hosted by the International Association of Financial Crimes Investigators (IAFCI), CoinGeek, National Association of Drug Diversion Investigators (NADDI), Ireland Compliance Association, Suncoast Banker Association, Anguilla Fintech Conference, Singapore Fintech Festival and the Anti-Human Trafficking Intelligence Initiative (ATII). Blockchain Intelligence Group has secured several 2022 keynote speeches at industry events for bankers and law enforcement.
Major product enhancements further differentiated Blockchain Intelligence Group from its competition. New graphing capabilities and tools help investigators follow the flow of funds to known entities. Tighter integration between products enhances productivity for compliance and investigation use cases. More customization capability allows clients to adjust tools to their operations. The 2022 roadmap will support increasing market share across industries and geographies.
In the first week of January, Blockchain Intelligence Group released a first-of-its-kind cryptocurrency compliance playbook for the United States targeting VASPs and financial institutions. In the second week, the team broke the story of the first non-fungible token scam in 2022 as reported in Blockworks and 12 other news outlets to date. Coverage is pending in Tier 1 news outlets. The story earned Blockchain Intelligence Group 93 per cent of the media coverage compared with its top competitors.
President Lance Morginn commented: "Blockchain Intelligence Group is winning more competitive bid situations. On numerous occasions in 2021 clients said they picked Blockchain Intelligence Group for its quality of data and attribution for nefarious addresses. We have said from day one, our growth begins with the quality of our data, granularity of information, and timeliness of attribution. We also hear how easy our services are to use and understand. Our team has done an excellent job developing what the industry is calling best-in-class forensic tools with an unparalleled user experience. I am excited about what the future holds as being one of the global thought leaders in cryptocurrency intelligence and analysis."
About Bigg Digital Assets Inc.
Bigg Digital Assets believes the future of crypto is a safe, compliant and regulated environment. Bigg invests in products and companies to support this vision. Bigg owns two operating companies: Netcoins and Blockchain Intelligence Group.
Blockchain Intelligence Group has developed a blockchain-agnostic search and analytics engine, QLUE, enabling law enforcement, regtech, regulators and government agencies to visually track, trace and monitor cryptocurrency transactions at a forensic level. The company's commercial product, BitRank Verified, offers a risk score for cryptocurrencies, enabling regtech, banks, ATMs, exchanges and retailers to meet traditional regulatory/compliance requirements.
Netcoins develops brokerage and exchange software to make the purchase and sale of cryptocurrency easily accessible to the mass consumer and investor with a focus on compliance and safety. Netcoins utilizes BitRank Verified software at the heart of its platform and facilitates crypto trading via a self-serve crypto brokerage portal.