The Zug-based blockchain company Trade.io is ending its partnership with Forbes, the business magazine popular for its billionaires list. Announced via a press release from the company, Trade.io said it will not renew its licensing agreement with Forbes Media, effectively ending its one-year relationship with the Forbes-branded cryptocurrency portal, called Forbes CryptoMarkets.
“This decision was not taken lightly, and was made with the trade.io clients and token holders in mind. We simply felt our time and resources were better spent on marketing, the exchange and TIO Markets,” Trade.io said.
Launched in October 2018, Forbes CryptoMarkets was the result of a multi-organization partnership with NY investment firm NewCity Capital and Swiss blockchain company Trade.io. The cryptocurrency data website aims to give crypto enthusiasts detailed information and insights on relevant markets, coins, platforms, and blockchain projects.
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Around the time of launch, trade.io CEO Jim Preissler told Finance Magnates that the initiative is an equity partnership where the company holds a financial stake in “the success of Forbes CryptoMarkets.” He added that a portion of the revenue trade.io earns as a result of the deal will go towards its liquidity pool.
The site features crypto-related indices
Found online at http://www.forbescrypto.com, the data-oriented portal contains real-time pricing and volume information on several cryptocurrencies and an five cryptocurrency indices worldwide.
Forbes CryptoMarkets also publishes insights and information on top crypto exchanges including their listed coins, trading instruments, prices, and volumes. In addition, the site has been pulling real-time newsfeed from different sources, including select editorial content from Forbes magazines from around the world.
It’s not clear if Trade.io’s withdrawal would affect the future of Forbes CryptoMarkets and its team that includes data scientists and programmers who leverages quantitative data sources to clarify and present real-time view of the cryptocurrency and blockchain ecosystem. Although it resembles the popular Coinmarketcap portal, but it hardly catches interest although it displays unique indexes tracking different groups of cryptocurrencies.