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WonderFi Announces Agreement to Acquire Blockchain Foundry
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - WonderFi Technologies Inc....
About this update from Wonderfi Technologies Inc
[{"type":"text","content":"WonderFi Announces Agreement to Acquire Blockchain FoundryVancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (FTX: WNDR) (the \"Company\" or \"WonderFi\") today announced that it has entered into a definitive agreement (the \"Agreement\") to acquire all of the issued and outstanding shares of Blockchain Foundry Inc. (\"BCF\") (CSE: BCFN), a leading North American blockchain development firm (the \"Transaction\").\"This acquisition further solidifies WonderFi as the Canadian leader in the digital asset space,\" commented Ben Samaroo, CEO of WonderFi. \"BCF is on a great trajectory with a diverse set of intellectual property, brand partnerships, and a revenue generating track-record. The current economic conditions in the crypto market have made it attractive for WonderFi to be able to acquire companies like BCF which carry the potential to compliment our core operating crypto asset trading platforms Bitbuy and Coinberry, while also adding cash, liquid digital assets, and a portfolio of private emerging crypto investments to WonderFi's balance sheet.\"BCF reported revenue of approximately $1.67 million for the fifteen months ended March 31, 2022, and had cash and liquid digital assets of approximately $7.24 million, in addition to a portfolio of private emerging crypto investments of $500,000 as publicly reported as at June 30, 2022.In January 2022, BCF launched LastKnown, a non-fungible token (\"NFT\") minting platform and marketplace for unique NFT drops from artists and collections. BCF has deployed three collections through the platform to date from a range of award-winning artists. In May 2022 BCF launched a beta version of Metacademy, a learn-to-earn educational platform focused on hands-on learning in an easy to use environment, teaching users how to set up a crypto wallet, how to mint, buy and sell NFTs, the differences between Web2 and Web3, and how to better understand the metaverse, amongst others. Key Transaction BenefitsAdds unique assets to the WonderFi ecosystem directed towards unifying the Web3 experience Accelerates growth of full service Web3 retail platform through addition of LastKnownFurthers WonderFi's strategic goal of making Web3 more accessible by education and awareness via MetacademyCreates additional opp...