NovaBay's Crypto Shift: A New Model for Treasury Management

NovaBay's transformation into a blockchain-focused holding company has led to significant changes in its business model.

After securing $134 million in funding, NovaBay established a substantial position in the crypto space, holding approximately 2.06 billion SKY tokens. This represents about 8.8% of the total supply and is valued at around $150 million.

The company has begun staking these assets to generate returns, with initial rewards totaling roughly 26.6 million SKY tokens. The staking rewards initiative is driven by the underlying economics of the Sky protocol, which currently offers a staking rate above 10%.