Leading Crypto Exchange Launches Gaming Unit to Drive NFT and Token Adoption

 

FTX, one of the world’s largest cryptocurrency exchanges, is launching a new team called FTX Gaming that is focused on driving crypto and non-fungible token (or NFT) adoption in the gaming world. According to an FTX spokesperson, the company is launching a “crypto-as-a-service” platform through which tokens can be launched and support for NFTs within the game. The exchange’s new gaming-focused team is just another example of the continued push to bring blockchain-based products into the gaming space. Companies like WonderFi Technologies Inc (NEO: WNDR) (OTC:WONDF), Voyager Digital Ltd. (TSX:VOYG) (OTCQX: VYGVF), DeFi Technologies, Inc. (NEO: DEFI) (OTC:DEFTF), Hive Blockchain Technologies (NASDAQ:HIVE) (TSXV:HIVE), and Riot Blockchain, Inc. (NASDAQ:RIOT) are also part of the industry-wide initiative to increase DeFi adoption in more sectors. 

WonderFi Technologies Inc (NEO: WNDR) (OTC:WONDF) reported rapid user growth within the WonderFi community with a total of 600,000 users as of February 28, 2021. Thanks to the Bitbuy acquisition, WonderFi expects to bring 389,000 users into the ecosystem. 

Since its January 25 launch, WonderFi’s app has registered more than 25,000 unique visits and the average daily visits increased by 423% each week. Likewise, Bitbuy recorded a 58% increase in its new user registration in Q4 2021 compared to the previous quarter. 

WonderFi will incorporate NFT support to the app in 2022 with the aim of creating a bridge between gaming and cryptocurrencies after the closing of the Sun Machine acquisition. The company aims to get more and more users to adopt blockchain technology by adding new products and integrated solutions to WonderFi

Ben Samaroo, Chief Executive Officer of WonderFi commented: “Within a very short timeframe we have achieved over half a million users and we are focused on offering a diverse set of high quality products to those users. The strong synergies between CeFi, DeFi, gaming and NFTs provide us with a tremendous opportunity to continue to grow our user base and increase the value of the WonderFi ecosystem.”

WonderFi also recently announced the launch of a new division, WonderFi Interactive Inc., which will help expand the range of products WonderFi offers for play-to-earn games and NFTs. In addition, the new division will provide a new gateway for users to the WonderFi ecosystem.

The company also announced its new acquisition of Sun Machine Entertainment Inc., a game development studio that owns the Go BIG! franchise, available for Android and iOS. The game brings approximately 200,000 users across the two operating systems into the WonderFi ecosystem. The new WonderFi Interactive division will include Go BIG!, celebrity NFT integration and new game development by 2022 with the aim of attracting more players to the WonderFi ecosystem. 

The company expanded its reach significantly with its partnership with Kogan.com, to an expected 3.3 million potential customers. WonderFi believes that Kogan.com Limited, one of the largest and most popular online retailers in Australia and New Zealand, will provide support to WonderFi Technologies Inc to drive international expansion and user growth. 

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

Booming Times for DeFi 

Voyager Digital Ltd. (TSX:VOYG), one of the fastest-growing cryptocurrency platforms in the US, recently announced its revenue and user metric for fiscal Q2 2022. Revenue was $164.8 million, up over 4,400% from $2.5 million in Q4 2020. The company intends to launch an NFT product and wallet, to make viewing, acquiring, and custody for NFTs simple for the Voyager customers.

Riot Blockchain, Inc. (NASDAQ:RIOT), a leader in Bitcoin mining and hosting reported on February 4, 2022 its January operations updates. The company is anticipating a self-mining hash rate capacity of 12.8 EH/s by Q4 2022, and provided an update on its infrastructure expansion. Riot’s 400 MW expansion will include a second immersion-cooled building, alongside Building D, which is a state-of-the-art, air-cooled Bitcoin mining building. 

Hive Blockchain Technologies (NASDAQ:HIVE) (TSXV:HIVE), a growth-oriented technology stock in the emerging blockchain industry, just announced the production figures from its global Bitcoin and Ethereum mining operations for January 2022, including 264 BTC produced, 1.87 Exhash of BTC mining capacity, 2170 ETH produced and 4.56 Terahash of ETH mining capacity. The company also revealed a BTC HODL balance of 2,043 Bitcoin and 25,404 Ethereum as of January 31, 2022.

DeFi Technologies, Inc. (NEO: DEFI) (OTC:DEFTF) intends to launch an Exchange Traded Product (ETP) with SEBA Bank AG, a fully integrated, FINMA licensed, digital assets banking platform. The joint initiative will offer investment solutions in crypto assets for both institutional and retail clients. This will also expand the company’s reach in more markets and with important institutional capital. 

Banks have been the only financial intermediaries available for a long time, setting rules that dictate who can participate and who cannot. WonderFi Technologies Inc (NEO: WNDR) (OTC:WONDF) seeks to use technology to change gaming, finance, and decentralized tools.

[BONUS-POPUP id=”1″]

Please See Disclaimer

Featured Image: DepositPhotos @ Maloha13



Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, WonderFi Technologies Inc. Market Jar Media Inc. has or expects to receive from WonderFi Technologies Inc’s Digital Marketing Agency of Record (Native Ads Inc.) eighty nine thousand eight hundred CAD for 7 days (5 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.'s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on MicroSmallCap.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on MicroSmallCap.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.

6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management's expectations regarding WonderFi Technologies Inc’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to WonderFi Technologies Inc’s industry; (b) market opportunity; (c) WonderFi Technologies Inc.’s business plans and strategies; (d) services that WonderFi Technologies Inc. intends to offer; (e) WonderFi Technologies Inc’s milestone projections and targets; (f) WonderFi Technologies Inc’s expectations regarding receipt of approval for regulatory applications; (g) WonderFi Technologies Inc’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) WonderFi Technologies Inc’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute WonderFi Technologies Inc’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) WonderFi Technologies Inc’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) WonderFi Technologies Inc’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) WonderFi Technologies Inc’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of WonderFi Technologies Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) WonderFi Technologies Inc’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact WonderFi Technologies Inc’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing WonderFi Technologies Inc’s business operations (e) WonderFi Technologies Inc. may be unable to implement its growth strategy; and (f) increased competition.

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.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of WonderFi Technologies Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of WonderFi Technologies Inc. or such entities and are not necessarily indicative of future performance of WonderFi Technologies Inc. or such entities.