Netcapital Launches Tokenized Asset Initiative with PureWave Hydrogen Partnership

Netcapital (NCPL) has launched its first tokenized asset project with PureWave Hydrogen, aiming to create a securities-backed tokenization model for hydrogen drilling assets. This initiative represents Netcapital's entry into real-world asset tokenization and may lead to further partnerships. The company's financial health is concerning, with a 3-year revenue growth rate of -83.5%, negative operating and net margins, and a high Altman Z-Score of -4.7, indicating a potential bankruptcy risk. However, its valuation metrics suggest undervaluation, and its sector-specific risks include market volatility and regulatory changes.