NEW YORK, Jan. 12, 2022 /PRNewswire/ -- 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)
(OTCPK:WONDF), Marathon Digital Holdings, Inc.
(NASDAQ:MARA), HUT 8 Mining Corp. (NASDAQ:HUT), Mobilum
Technologies Inc. (CSE:MBLM) (OTC:MBLMF) 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.
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