Focused on creating high-end clothing and accessories, Nitches Inc., (OTC: NICH) has placed great emphasis on protecting clients’ intellectual property through innovative technologies. After releasing a video highlighting its immersive metaverse, NICH regained investors’ attention – leading to a sudden surge. With upcoming partnerships with celebrities and a potential uplisting, NICH stock could be one of the most promising tech stocks in 2022.
NICH Stock News
NICH followed through on its promises with a video preview of its revolutionary authentication app. By utilizing blockchain technology, the application allows the user to scan a unique QR code – which is stitched on each product – to complete verification and ensure the transaction is both safe and secure. The video demonstrates how buyers can scan these codes to register their products on the company’s proprietary mobile app in order to verify ownership and originality. Additionally, this app will allow the company to protect NFTs of its clothing items in the digital world.
NICH intends to make its OVS available to businesses looking to protect their merchandise from counterfeiting. NICH’s CEO – John Morgan – believes this “verification technology will be a game-changer for other companies worried about counterfeit products in industries from fashion to sports equipment to home furnishing”. Given its competitive edge, cutting-edge technology and user-friendly interface, the app could position NICH as an emerging leader in several lucrative industries.
To deliver on these growth plans, the company continues to collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect both their brand and vision. Recently, NICH collaborated with both Nick Cooper – American Idol superstar vocal coach – and John Lewis – a prominent film director who recently partnered with Billie Eilish on the documentary “They’re Trying to Kill Us”.
NICH’s collaboration with both celebrities was anything but a coincidence given that their fanbase perfectly complements NICH’s targeted audience. Morgan is bullish that NICH will “attract buyers who are always on-trend, worship pop culture, and use fashion to make a statement.” In light of this, many investors are anticipating major sales with the release of the new collection. With this approach, NICH continues to market products to influencers’ wide fanbase, while simultaneously cutting down on huge advertising costs.
Upon finalizing the collaboration on both Twitter and the website, NICH saw a massive 119% increase overnight. Morgan believes it is “paramount that NICH safeguards its intellectual property and luxury brand” as the company continues to “work with celebrities with limited collections of only 200 – 300 select clothing items.”
To ensure a successful release, NICH announced a partnership with ShipBob – one of the largest order fulfillment companies in the US. By utilizing its cloud logistics platform, Shipbob will manage and track the delivery of NICH’s high-quality clothing to customers around the globe. Morgan is bullish this partnership will “provide world-class supply chain capabilities that are accurate, affordable and fast.” Additionally, Shipbob will provide NICH’s users with “first-class experience from the easy online ordering to the richness of clothing and the fast delivery of products”.
With an AS of 300 million and an OS of over 225 million, investors are watching the stock given its incredibly low float of 4.7 million. In light of this solid share structure and zero dilution so far, investors are bullish NICH could go on a run as its impending catalysts play out.
*Update on February 10th
The company is already taking rigorous steps towards growth as it announced its OVS testing has begun ahead of schedule. Because the OVS is specifically developed to prove the authenticity of its exclusive clothing items, NICH is dedicated to ensuring the app achieves optimal performance and user satisfaction. In light of its efforts, management believes the project is set to be completed as soon as March of this year.
Morgan believes the company’s “OVS mobile app is the first-of-its-kind in the fashion industry and an important step in preventing counterfeiting, a widespread issue in today’s market”. In fact, the app features ten easy steps that validate product authenticity and obtain NFTs that could be utilized in the metaverse. In light of these competitive features, NICH has plans to license its OVS technology to different businesses looking to protect their merchandise from counterfeiting.
To complement this, the company also focused on its web store – which is “designed to include memorable interfaces that give users a mind-blowing experience.” With these application programming interfaces (APIs), the web store will include product listings, order and user creation as well as OTP verification and NFT transfers.
Given that the company’s OVS features a decentralized application (dApp), NICH is now well-positioned to capitalize on the Web3 revolution. As it utilizes both Web3 and metaverse technologies, the company intends to integrate its dApp with leading Ethereum and Polygon wallets – such as MetaMask, Scatter, Coinbase, and Trust. Additionally, NICH is working towards facilitating cryptocurrency payments on its web stores so that customers are able to check out using Bitcoin, Ethereum or Dogecoin.
Morgan is bullish the company’s venture could allow it to “lead the fashion industry” as it continues “merging cutting-edge technology with the highest-quality clothing items in the market, created with today’s top celebrities and influencers.” In light of the company’s upcoming plans, investors’ excitement is already driving NICH to new highs.
*Updated April 13th
Aiming to provide value to its shareholders, NICH canceled 189 million shares – reducing its OS to 39.6 million. To facilitate this, Morgan canceled 175 million of his own shares as well as another 14 million shares from a different shareholder. After canceling 80% of its OS, many investors are bullish NICH could be one of the best tech stocks in 2022 thanks to this catalyst and more to come.
Moreover, NICH has successfully restructured some of its debt after holding talks with its debtors to amend its debt notes. This likely ties into its plans to file a form 10 with the SEC in order to uplist. The company has expressed its ambition to return to the NASDAQ where it formerly traded and plans to file this form in the upcoming weeks after reviewing it.
If it’s Form 10 is approved, NICH would become a fully reporting company and would no longer be designated as a shell on the OTC Markets. This illustrates NICH’s plans to increase its visibility, attract new investors, and eventually uplist.
Meanwhile, NICH has delivered on its promise to complete its OVS in March and has since launched the “NITCHES OVS” mobile app which will allow users to authenticate ownership of NICH’s luxury products and NFTs. Through OVS, NICH is targeting businesses which are losing market share to counterfeits. Not only will its OVS app be used to authenticate its limited-edition capsule collections and NFTs created in collaboration with celebrities and influencers, but eventually other businesses as well. In light of this technology, NICH is well-positioned to attract more celebrities for potential partnerships.
On that note, NICH opened its online store for the sale of Nick Cooper’s “FutureMega” collection John Lewis’ “Peace on Marz” line consisting of 250 limited edition hoodies and hats for each. Mantaining its presence as a leading NFT clothing company, NICH also minted 250 NFTs for these hoodies and hats which can be used as digital art. With its OVS launched, buyers will be able to authenticate these items – proving their ownership.
NICH is also designing another limited-edition capsule collection with football coach, Steve Calhoun. As is the case with its other limited-edition products, NICH’s artists are working with Calhoun to create digital art NFTs as well as an online store for this line. While the company’s main focus is to partner with celebrities, NICH is developing its own clothing line to promote mental health in addition to collectible NFTs for each item. This initiative has also led NICH to take part in the 2022 Bitcoin Conference and has promised updates following the event.
With a solid share structure and an extremely low float of 4.7 million, many are watching NICH for another run up with more updates from the company – possibly making it one of the hottest tech stocks.
*Updated May 10th
In the meantime, NICH is developing its own metaverse where users will be able to create 3D avatars dressed in NICH’s latest clothing. In this metaverse, users can navigate venues through VR headsets and attend meetings, shows, and events where they can network and interact with other users. To facilitate the creation of this metaverse, NICH will integrate the MetaHuman Creator tool developed by Epic Games’ Unreal Engine.
At the same time, NICH intends to partner with a number of leading celebrities and influencers to design unique clothes for avatars in the metaverse. In light of this, Morgan is bullish this metaverse “will be a one-of-a-kind experience that will reflect Nitches commitment to high-end design and cutting-edge technology”. At the same time, NICH plans to collaborate with other NFT marketplaces to allow users to use, purchase, and sell their NFT assets in this metaverse. In this way, NICH is positioning its digital world to become one of the leading metaverses once launched.
As the company looks to achieve more growth, NICH is currently in the final stages of negotiations with a major brand ambassador to design multiple merch lines. Although NICH had previous collaborations with a number of celebrities, many investors are speculating this partnership could be the biggest the company has had yet. With this in mind, investors are anticipating the announcement of this deal since NICH could bring in “multiple major celebrities” through this agreement. With the company looking to release a number of press releases regarding these collaborations, NICH could be one of the hottest tech stocks this quarter.
Despite these upcoming catalysts, many investors are more interested in NICH filing its Form 10 with the SEC to facilitate uplisting to the OTCQB, NASDAQ, or NYSE. After 60 days from its filing, NICH will be required to provide the SEC with timely disclosures of material information, audited financials, as well as management and shareholders’ ownership reports. Since this form contains pivotal information about the company, NICH’s management is confident this form will only add to shareholders’ confidence. Once this form is approved, NICH intends to begin the process of uplisting to a more established exchange. If this is the case, NICH could be one of the tech stocks to watch this summer.
Media Sentiment
@Modrnerapharaoh sees NICH’s potential for a run to $.7 similar to last February’s.
@ChaseMacTrades is waiting for PR to send NICH.
Technical Analysis
Currently trading at $.0619, NICH shows a support at .0402 with a resistance at .0711 and a secondary resistance at .1129. While accumulation has been dropping since NICH’s run in April, it is starting to regain some of the lost momentum thanks to the company’s metaverse plans. Now, the RSI is picking up at 57 and the MACD is bullish but could be approaching a crossover.
Despite a dip following its run in April, NICH is gaining ground thanks to its upcoming PR. Bullish investors could find an entry point in anticipation of these catalysts once the RSI drops a bit more. While NICH’s float is outdated on the company’s profile, the float could be near its unrestricted shares of 17.2 million. In light of this, NICH could be well-positioned for a run as the company releases more updates.
NICH Stock Forecast
Considering the company’s plans to develop its own metaverse, NICH is positioning itself to become a big player in this sector thanks to its range of services and features all geared towards customization in this virtual world. As the company works towards agreements with major celebrities, NICH stock could take off with more publicity – possibly becoming one of the best tech stocks this year. With NICH planning to release a series of press releases in the near future to announce these celebrity partnerships, NICH could be one of the tech stocks to take off despite the market’s downturn. Given that the company filed its Form 10 with the SEC, NICH could be a suitable long-term hold for bullish investors given its uplisting plans.
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