Oulang (OBLG), a Nasdaq-listed company, has announced its commitment to invest $8 million in TAO tokens, according to a report by Foresight News. The company further stated that it will evaluate additional weekly purchases of TAO tokens to expand its strategic reserves. In parallel, Oulang is actively exploring potential partnerships within the Bit Tensor ecosystem to advance technological product development and optimize its operational and financial strategies.
Earlier in July, Oulang acquired 5,025 TAO tokens valued at approximately $1.65 million, at an average cost of $328.38 per token, which were subsequently staked. Prior to this, the company had raised $7.5 million aimed at establishing a strategic reserve of TAO tokens.
These initiatives represent a significant strategic maneuver for Oulang, positioning it to collaborate with Bit Tensor in developing innovative technological products while fortifying its financial standing in the market. The company’s objective is to enhance the management of its financial resources and strengthen its foothold through targeted investments in advanced blockchain technologies. The recent investment in TAO tokens, coupled with the ongoing exploration of partnerships with Bit Tensor, underscores Oulang’s commitment to expanding its presence within the blockchain and cryptocurrency sectors.
Source: binance
