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The Rise of Metaverse Fuels DeFi, Crypto, and Blockchain

FN Media Group Presents Microsmallcap.com Market Commentary

 

New York, NY – January 5, 2022 – Metaverse, a digital place where people work, play, and socialize, could soon be upon us with Facebook (now called Meta) leading the way. But like any breakthrough industry, there is rarely one party that rises to meet the future. One company, Wolf3D raised $1.3 million for Ready Player Me, a cross-game avatar platform for the Metaverse. At the same time, MetaLaunch (ASVA) gained $3.2 million in seed funding and private investment. And that’s not all. According to Crunchbase, many venture capitalists will spend billions more to make the metaverse the new reality. This new iteration of the internet could create enormous opportunities for DeFi companies like WonderFi Technologies (NEO:WNDR) (OTCPK:WONDF), DeFi Technologies Inc. (NEO:DEFI) (OTCPK:DEFTF), Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), Coinbase Global (NASDAQ:COIN), and Hive Blockchain Technologies Ltd. (NASDAQ:HVBT) (TSXV:HIVE), given that Metaverse tokens (MANA, GALA, etc.), the new digital currencies will be mainly transacted by DeFi infrastructure.

 

DeFi technology company WonderFi Technologies (NEO:WNDR) (OTC:WONDF) just made a huge step toward democratizing finance through easy and secure access to DeFi and crypto after signing a definitive agreement to acquire First Ledger Corp., the parent company of Bitbuy, Canada’s first approved crypto marketplace with over $4.4 billion transacted.

 

Founded in 2016, Bitbuy is a leading cryptocurrency platform founded in 2016 that has had over 350,000 users, more than $4.4 billion in transactions on the platform, and a revenue of more than $32.0 million in the year ended September 30, 2021. The platform became the first approved crypto marketplace in Canada in November 2021. The Deloitte Technology Fast 50™ program ranked the platform 9th.

 

This acquisition brings WonderFi closer to its goal of democratizing decentralized finance by providing easy and secure access to DeFi and crypto. This acquisition also brings new revenue streams to WonderFi as an approved crypto marketplace and an OTC trading platform for retail and institutional clients.

 

Through the acquisition, WonderFi will also gain Bitbuy’s users and more than $440 million assets from Bitbuy, in addition to owning the license and operating rights of Canada’s first crypto marketplace. Current Bitbuy users will have access to the WonderFi ecosystem and functionalities as well.

 

WonderFi will also expand its team by retaining Bitbuy’s employees upon closing the acquisition, which is expected sometime in Q1 2022.

 

Speaking of the partnership, investor and strategic advisor to WonderFi, Kevin O’Leary said, “This is a combination of two management teams with excellent executional skills that now have the bandwidth, assets, and licenses to provide an institutional-grade compliant crypto platform to investors interested in exposure to centralized and decentralized financial services.”

 

In addition, WonderFi Technologies (NEO:WNDR) (OTC:WONDF) announced on November 24, 2021 the listing of tokenized shares on FTX, a leading global cryptocurrency exchange founded by Sam Bankman-Fried, a well-respected entrepreneur named on the Forbes 30 Under 30. This is crucial because not only does FTX listing provide global access to WonderFi’s stock, it also provides FTX’s millions of users with the opportunity to invest in WonderFi through BTC, ETH, and other cryptocurrencies without a bank account.

 

For more information about WonderFi Technologies (NEO:WNDR) (OTC:WONDF), click here.

 

Companies Continue to Vote Big on the Future of Crypto and DeFi

 

Shortly after DeFi Technologies Inc. (NEO:DEFI) (OTC:DEFTF) received approval to launch a Metaverse and Gaming Index ETP that allows investors to gain direct exposure across multiple metaverse-related and protocol-based projects through one investment, the company was approved to distribute its Top 10 Digital asset and Top 5 DeFi ETPs. Following this approval from the Swedish Financial Authority, DeFi Technologies’ wholly-owned subsidiary, Valour Inc. can distribute its digital assets and DeFi ETPs in the Swedish and EU markets.

 

Voyager Digital (TSX:VOYG) (OTCQX:VYGVF), a fast-growing US crypto platform, announced its partnership with The National Women’s Soccer League. This partnership makes Voyager the league’s first-ever cryptocurrency brokerage, providing financial support, crypto education, and rewards directly to players. This creates long-term financial growth opportunities for players even after the end of their competitive playing careers. The company also announced an Automatic Securities Disposition Plan for its executives to permit trades to be executed based on pre-arranged instructions.

 

Crypto exchange platform Coinbase Global’s (NASDAQ:COIN) President and Chief Operating Officer, Emilie Choi participated in a fireside chat at the Goldman Sachs U.S. Financial Services Conference on December 7, 2021. In the fireside chat, Emilie commented on the growing popularity of crypto applications such as DeFi and NFTs and Coinbase’s position on these developments. Emilie highlighted the need to shift crypt from the financial speculation phase to a utility phase, which is a significant concept in Web 3.0.

 

Cryptocurrency mining company Hive Blockchain Technologies Ltd. (NASDAQ:HVBT) (TSXV:HIVE) announced the filing of a revised annual information form for the full year ended March 31, 2021. The changes in the annual information form include enhanced disclosure on the company’s crypto custodial services, description and general development, and a statement of executive compensation for the year ended March 31, 2021. The company filed the revised annual information form upon request by the British Columbia Securities Commission.

 

Companies like WonderFi are positioned to gain big as cryptocurrencies and decentralized finance continue to gain more use cases in the Metaverse.

 

DISCLAIMER: Microsmallcap.com (MSC) is the source of the Article and content set forth above.  References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with MSC or any company mentioned herein. The commentary, views and opinions expressed in this release by MSC are solely those of MSC and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable MSC and FNM for any investment decisions by their readers or subscribers. MSC and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

 

The Article and content related to the profiled company represent the personal and subjective views of the Author (MSC), and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author (MSC) has not independently verified or otherwise investigated all such information. None of the Author, MSC, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment. FNM was not compensated by any public company mentioned herein to disseminate this press release but was compensated twenty five hundred dollars by MSC, a non-affiliated third party to distribute this release on behalf of WonderFi Technologies Inc.

 

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

 

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MSC and FNM undertake no obligation to update such statements.

 

Media Contact:
FN Media Group, LLC
info@financialnews.com
+1(561)325-8757

 

Source: Microsmallcap.com

The post The Rise of Metaverse Fuels DeFi, Crypto, and Blockchain appeared first on Financial News Media.

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