FN Media Group Presents Microsmallcap.com Market Commentary
New York, NY – January 12, 2022 – 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.
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.
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.
FN Media Group, LLC
The post All-Time Best-Selling Rapper Just Dropped US$462,000 On a Bored Ape NFT appeared first on Financial News Media.