SHARES of digital content production house Vividthree Holdings OMK : OMK 0% saw heavy trading in the morning on Wednesday (Oct 27), after the company said it was exploring opportunities in the gaming sector to increase future revenue streams.

The Catalist-listed counter reached a high of S$0.08 as at 9.18 am, up 77.8 per cent or S$0.035, with 18.9 million shares changing hands. But it ended 2.4 cents or about 53.3 per cent higher at S$0.069 when market closed.

No married deals were recorded, according to ShareInvestor data.

As at 10.06 am, its shares were trading at S$0.075, up S$0.03 or 66.7 per cent. The counter is one of the top traded stocks by volume, with 36.9 million shares changing hands.

In its business update on Wednesday morning, Vividthree said it has commenced preliminary discussions with several parties to capitalise on popular trends such as blockchain and non-fungible tokens (NFT) in the gaming sector.

The parties include - but are not limited to - GammaR, a platform that provides NFT game developers with the resources to develop and monetise their ideas.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

The group noted that blockchain games have seen a surge in popularity partly due to the Covid-19 pandemic. "This emerging trend indicates that the global gaming sector is rapidly boosting its network of users, and in particular, interest in blockchain games has continued to rise," it said.

Vividthree said it is in discussions with GammaR on various possible collaboration structures to venture into this space, and will make further announcements if and when there are material developments.

The counter is not the only one that saw heavy trading after announcing plans to explore business opportunities in blockchain. In September, shares of property developer Hatten Land surged after it announced plans to pivot towards digital and blockchain activities.

READ MORE

• Hot stock: Hatten Land sees heavy trading after crypto mining, solar energy tie-ups

• Vividthree gets rights to produce VR shows for Train to Busan sequel