WonderFi Technologies Inc. and Blockchain Foundry Inc., a leading North American blockchain development firm, announced a definitive agreement whereby WonderFi will acquire all outstanding Blockchain Foundry shares, Coin Journal learned from a press release.
Key benefits of the agreement
The agreement will accelerate the growth of full-service Web3 initiatives via a wider development ecosystem and improved consumer channels and adds immediate scale to Blockchain’s product offering.
This will be possible through WonderFi’s user base across its Coinberry and Bitbuy platforms.
Moreover, it will secure material operational and consumer synergies across Blockchain’s full product suite and development initiatives. Blockchain Foundry CEO Dan Wasyluk commented:
We are excited to be joining WonderFi, whose team boasts in-depth expertise in Web3 and a complementary range of products to combine with our current development initiatives. We can capitalize on the numerous consumer and operational synergies to create more opportunities across a range of Web3 experiences.
Marketplace for unique NFT drops
In January this year, Blockchain Foundry introduced the NFT marketplace and minting platform LastKnown, which hosts unique NFT drops from artists. Blockchain Foundry has deployed three collections through LastKnown so far, all from recognized artists.
In May, they introduced the beta version of Metacademy, an educational platform based on the learn-to-earn principle. It is focused on hands-on learning in an intuitive environment.
Metacademy teaches users how to mint, how to set up a crypto wallet, how to transact in NFTs, how to improve their understanding of the metaverse, and the key differences between Web2 and Web3.
WonderFi CEO Ben Samaroo said:
This agreement solidifies WonderFi as the Canadian digital asset leader. Blockchain Foundry is on a great trajectory with a track record in generating revenue, a vast range of brand partnerships, and a broad set of intellectual properties.
The current crypto market conditions have improved the prospect of acquisitions by WonderFi of companies like Blockchain Foundry. They can potentially improve Bitbuy and Coinberry, our fundamental operating crypto asset trading platforms, and add a portfolio of private emerging crypto investments, liquid digital assets, and cash to WonderFi’s balance sheet.