Eightco Holdings is a small Nasdaq-listed company in the midst of a strategic pivot from operating businesses toward a digital asset treasury strategy. Its only revenue-generating business is Forever 8, an inventory financing and management service for e-commerce sellers. Forever 8 provides capital to online retailers so they can stock inventory without tying up their own cash, earning fees based on the volume of inventory financed. Forever 8 revenue is declining and heavily concentrated, with a single customer representing roughly 89% of sales. Eightco's strategic focus has shifted decisively toward digital assets. In September 2025, Eightco raised $270M through a private placement and deployed the proceeds primarily into Worldcoin (WLD), a digital identity and cryptocurrency project. Eightco holds approximately 10% of WLD's circulating supply and positions itself as the largest public-market participant in the Worldcoin ecosystem. The company has also taken equity stakes in OpenAI and Beast Industries (the business platform of content creator MrBeast) after year-end. Under current accounting rules, digital assets are marked to market each period, meaning Eightco's reported earnings will be driven primarily by WLD price movements rather than Forever 8's operating performance. The corrugated packaging business was divested in April 2025, and the Forever 8 segment is under strategic review, suggesting Eightco intends to focus entirely on its treasury and investment strategy going forward.