In early 2022, Eminem, the 49-year old rapper, spent close to $462,000 to purchase a non-fungible token (NFT) of Bored Ape Yacht Club. He also bought the NFT that resembles him for 123.45 Ethereum, changing his Twitter avatar to a photograph of his “NFT self.” Put simply, an NFT is a form of digital art stored in a Blockchain, a digital ledger. In case the craze hasn’t been evident, other celebrities like Snoop Dogg, Jimmy Fallon, Grimes, and Tom Brady have also jumped on board. It’s been known that NFT as a stored unit is closely linked to Decentralized Finance (DeFi), as both mainly operate on the Ethereum Blockchain, where a wide range of financial and investment applications can be developed. Since rising tides could raise all ships in the same area, many companies that are already pioneers of the DeFi ecosystem, including WonderFi Technologies (NEO: WNDR) (OTC:WONDF), Marathon Digital Holdings, Inc. (NASDAQ:MARA), HUT 8 Mining Corp. (NASDAQ:HUT), and DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTCQB:DMGGF), could see tremendous growth opportunities in 2022.
WonderFi Technologies (NEO: WNDR) (OTC:WONDF) is a technology company backed by Kevin O’ Leary that provides us with an easy gateway to DeFi. It was announced on January 4th, 2022, that it has entered into a definitive agreement to acquire First Ledger Corp., the parent company of Bitbuy Technologies Inc., a leading cryptocurrency platform and the first cryptocurrency marketplace in Canada. WonderFi’s acquisition and integration will make it a leading end-to-end platform for people seeking crypto and decentralized finance access. It also established WonderFi as the owner and operator of the first crypto marketplace license in Canada.
“The integration of WonderFi and Bitbuy is a huge step forward in our mission of democratizing finance through easy and secure access to DeFi and crypto,” said Ben Samaroo, CEO of WonderFi. “A licensed marketplace serves as a crucial gateway to the digital asset economy, and facilitates a robust end-to-end, unified client experience. The integration of Bitbuy’s product suite will accelerate and expand the reach and scope that WonderFi can offer to the market, and will drive long-term growth and value for the Company.”
Bitbuy, which is now one of North America’s leading crypto marketplaces, is a trusted execution platform that services more than 375,000 users, with over $4.4 billion transacted through the platform. In November 2021, Bitbuy became Canada’s first approved crypto marketplace and was ranked 9th in the Deloitte Technology Fast 50™ program, with 3,379% in revenue growth from 2017 to 2020 making it the highest-ranking crypto asset trading platform amongst the Fast 50 winners. In the 12 months ended September 30, 2021, Bitbuy generated over $31.0 million in revenue.
WonderFi also recently reported its 2021 financial results. As of September 30, 2021 total assets were C$25.4 million, including C$20.3 million in cash and C$4.1 million in crypto assets and net cash used in operating activities was C$2.7 million.
For more information about WonderFi Technologies (NEO: WNDR) (OTC:WONDF), click here.
DeFi Companies Breaking Into 2022 With Tremendous Growth
Marathon Digital Holdings, Inc. (NASDAQ:MARA) recently released its 2021 Q3 results, celebrating a 73% increase in revenue from Q2 of the same year. Additionally, they currently boast a healthy growth rate of 6,091% year-over-year, resulting in non-GAAP income of $51.7 million. A large part of its success can be attributed to the production of 1,252 self-mined bitcoins in the Q3 of 2021, a 91% increase from 654 bitcoins in Q2.
Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), a tech company providing crypto payment transactions among other services, has announced changes to its Board of Directors, including the addition of Kasha Piquett and Robert Niziol, who together have the experience to help the company grow. Mobilum has also announced on December 13th that it has signed an agreement to integrate into Ledger Live Platform, a global platform for digital assets and web3 that includes Ledger hardware wallets, which are already sold in 180 countries for over 4 million units.
On January 5, HUT 8 Mining Corporation (NASDAQ:HUT), one of North America’s largest innovators in the digital asset mining space, released its mining production highlights for December 2021. In December, 276 Bitcoin were mined, resulting in an average production rate of 8.9 Bitcoin per day, 100% of the self-mined Bitcoin for the month of December were deposited into custody, consistent with Hut 8’s Hodl strategy. The company’s total Bitcoin balance held in reserve is 5,518, a 97% increase from the prior year-end and installed operating capacity currently sits at 2.0 EH/s, a 125% increase in hashrate from December 31, 2020.
DMG Blockchain Solutions Inc. (TSXV:DMGI) (OTCQB:DMGGF), a vertically integrated, environmentally friendly blockchain and crypto tech company, announced the appointment of John M. Place as its new Board Director on December 1st, 2021. Mr.Place is an accomplished business, legal and compliance leader with experience in the public and private sectors.
With the DeFi industry maturing towards the end of 2021 to break into 2022, plus the fact that DeFi-demanding sectors, including NFT and Metaverse, are coming into play very soon, WonderFi Technologies (NEO: WNDR) (OTC:WONDF) may be well-positioned to accelerate success.
How WonderFi Made Even Crypto Skeptic Kevin O’Leary Into a Believer! Click Here to download the Corporate Presentation!
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Except as required by law, WonderFi Technologies Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does WonderFi Technologies Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither WonderFi Technologies Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
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