XY Labs / XYO Network Announces Record Profits for the First Half of 2021 With 2x Growth
The XYO Network (Coinbase: $XYO), the geospatial blockchain network, announced today a recent record 2x growth as well as profitability for the first half of 2021. XY Labs generated net income of $3,841,615 in the first half of 2021 through a plethora of disclosed and undisclosed partnerships vs a loss of $1,967,793 in the first half of 2020.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928006178/en/
XYO stated that the number of nodes for the XYO Network had doubled in size over the last three months, noting a promising outlook for the remaining 2021 year and emphasizing a strong recovery from the global lull caused by COVID-19.
The company’s announcement shines a light on the constant financial struggle for many crypto-projects, whose main assets like crypto tokens and currencies experience extreme volatility on the decentralized exchanges they trade on. Arie Trouw, one of the project’s founders and CEO of the parent company explained how XYO avoided becoming a “dead coin” by focusing on profitability and technological development over the past two years.
“Unlike many ‘dead coins’ that arose from failed crypto-projects from 2018, our utility token has been thriving,” Trouw said. “We believe that by choosing to focus deeply on solid technology, profitability, and developmental growth over the last two years, we have surpassed other blockchain projects that may focus more on the excitement of growth and promises.”
Trouw went on to explain some of the upcoming updates to the XYO Network technology, highlighting a goal to improve the speed and implementation of future and current partnerships.
This isn’t the first time the company has shared exciting numbers about their products; earlier this year they released a case study that analyzed 500 customers who use their “COIN” App product to participate in the blockchain network in exchange for prizes and rewards. The study showed how the users had collectively earned 933,697,010 XYO Tokens, the crypto utility token used for the network that was recently listed on Coinbase. At the time of the case study, the total tokens were valued at over $14 million.
Trouw stated there is more to come and is hopeful for the upcoming developments. “Over the last two years we may have been quieter, but by no means less focused on bringing to life the technology we’ve dreamed of building,” he stated. “If anything, we’ve been more efficient and more aligned than ever… and we can’t wait to see where it all goes next.”
More Information about XY Labs and XYO Network
Since 2012, we've developed geospatial products for customers to use in everyday life that help them improve the creation, management, and provenance of their personal activities, tasks, entertainment, and data. In 2018, we unveiled the XYO Network, the world’s first geospatial blockchain network backed with cryptography. With over 3 million downloads for our XYO-enabled application “COIN”, users around the world can participate in the XYO Network and even be rewarded for doing so. For more information, visit us at https://xy.company and https://xyo.network.
Facebook: www.facebook.com/OfficialXYO
Instagram: www.instagram.com/officialxyo
Twitter: www.twitter.com/officialxyo
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928006178/en/
Contact information
XYO Media Contact
Christine Sako
media@xyo.network
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
30 Peer-Reviewed Studies Highlight Statistically Significant Health Benefits of Almased16.7.2025 10:15:00 EEST | Press release
Two recent, peer-reviewed clinical studies have found that Almased, a high-protein, low-glycemic meal replacement, delivers significant health benefits ranging from weight loss and improved metabolic health to anti-aging effects and enhanced quality of life. Both reviews synthesize 30 peer-reviewed clinical studies across three decades of scientific research, confirming that Almased is effective and safe for weight reduction, preservation of lean muscle mass, and cardiovascular health. The 2025 review in the American Journal of Biomedical Science & Research highlighted Almased’s efficacy and safety for wide groups of people including individuals seeking weight loss, those with metabolic syndrome or fatty liver, older adults needing to preserve muscle mass, and athletes or healthy-weight individuals who require additional high-quality protein. This review also discusses how Almased’s patented fermentation process produces over 80 bioactive peptides, including 2 times the average daily i
Skechers AERO Series Opens New Chapter of Technical Running Innovation16.7.2025 10:00:00 EEST | Press release
Skechers Performance opens a new chapter of running innovation with the arrival of the Skechers AERO series. Named for the aerodynamic feel of the design, Skechers AERO represents the latest evolution of technical running shoes from the brand. The collection is engineered to deliver an exhilarating blend of speed, style and comfort to help runners cut through the wind and push beyond their personal bests while logging miles. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716754749/en/ Introducing the Skechers AERO Series of technical running shoes: Skechers AERO Burst, Skechers AERO Spark, and Skechers AERO Tempo (L-R). “Recently launched in North America and Asia, the AERO Series leverages innovative technologies to elevate our signature comfort that’s now available to runners in Europe,” said Ben Stewart, Vice President, Skechers Technical Performance Division. “An evolution of our legacy in running, Skechers AERO was d
The Future of Connectivity Starts Here: Network X Returns to Paris October 14 - 1616.7.2025 10:00:00 EEST | Press release
Network X 2025 - the only event that brings the fixed and mobile markets together - returns to Paris Expo Porte de Versailles October 14 - 16. Built for telecom's top players, this annual show drives business model innovation and monetisation of next-generation fixed, mobile, satellite and transport networks through AI and cloud. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716595903/en/ Speaker on Headliners Stage at Network X 2024 New to Network X in 2025 are specialty events designed to deliver expert insights on trending topics including Data Center World and two Expo Stages for Fixed-Line and Mobile. More than 5,500 telco network infrastructure professionals will gather alongside 1,500 telcos to learn from six program tracks highlighting the latest advancements in Fibre, Wi-Fi Networks and Services, IP and Optical Transport, Mobile Networks, Mobile Services, and Data Centres. “Network X is more than a conference—it
4Moving Biotech Enrolls First Patient in Phase 2a Trial of 4P004, a Potential First-in-Class GLP-1 Therapy for Knee Osteoarthritis16.7.2025 08:00:00 EEST | Press release
4Moving Biotech (4MB), a spin-off of 4P-Pharma dedicated to developing first-in-class treatments that modify the natural course of knee osteoarthritis (OA), today announced that the first patient has been enrolled in Phase 2a clinical trial, INFLAM MOTION. The study will evaluate 4P004, an intra-articular GLP-1 analog, as a potential first-in-class therapeutic candidate for knee osteoarthritis. INFLAM MOTION is a multicenter, randomized, double-blind, placebo-controlled Phase 2a trial planned to be conducted across Europe, the United States, and Canada. A total of 129 patients worldwide diagnosed with knee OA will be enrolled to evaluate, for the first time in humans, the efficacy of 4P004. “Enrolling our first patient is a pivotal step toward rewriting the treatment paradigm for knee osteoarthritis,” said Professor Francis Berenbaum, MD, PhD, Chief Medical Officer at 4Moving Biotech. “Almost 600 million people live with OA, yet no disease-modifying therapy has been done to patients. B
Belkin Achieves Qi2.2 Certification for Its Upcoming Products, Unlocking the Future of 25W Wireless Charging15.7.2025 20:06:00 EEST | Press release
Belkin, a leading consumer electronics brand for over 40 years, today announced it has received official Qi2.2 certification from the Wireless Power Consortium (WPC) for its upcoming products. As one of the first accessory brands to deliver Qi2.2-certified devices, Belkin is helping bring the next generation of wireless charging to market – enabling faster wireless charging speeds, broader compatibility, and improved performance for consumers. Belkin’s close partnership with the WPC since 2015 has been instrumental in bringing these advancements to consumers. As an early adopter and long-time contributor to WPC standards, Belkin was selected as one of a small group of trusted manufacturers to test and certify Qi2.2 products ahead of the broader industry rollout. All Belkin products undergo rigorous safety, quality, and performance testing. The company’s global headquarters includes WPC certified test equipment and state-of-the-art test labs dedicated to full product lifecycle validatio
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom