DGAP-News

How Are Companies Supercharging Their Brands with Web 3.0?

DGAP-News: WonderFi Technologies How Are Companies Supercharging Their Brands with Web 3.0? 31.08.2022 / 17:00 CET/CEST The issuer is solely responsible for the content of this announcement. Web 3.0 is a topic which has generated a lot of excitement over recent years, with cryptocurrency, NFTs, decentralized finance (DeFi) and other blockchain technology going mainstream. But how are businesses taking advantage of this? This article discusses the issue with reference to Starbucks Corporation (NASDAQ: SBUX), Nike Inc (NYSE: NKE), Pearson PLC (NYSE: PSO) and WonderFi Technologies (OTCQB: WONDF) (TSX: WNDR).

WonderFi Technologies (OTCQB: WONDF) (TSX: WNDR) operates as a DeFi software company and also an operator of licensed crypto trading platforms. It has developed a platform which integrates with the entire DeFi ecosystem, with the business serving customers around the world.

WonderFi’s most recent earnings showed that it achieved revenue of CA$2.9m for the three-month period ended 30 June 2022, which demonstrates a substantial improvement over the past 12 months.

The company’s ecosystem seeks to allow users access to a wealth of web 3.0 and centralized crypto and decentralized crypto functionality under the same roof.

After combining with Bitbuy and Coinberry through acquisitions, WonderFi Technologies has become one of the largest crypto exchange businesses in Canada by number of registered users and daily trading volume. This is far from the limit of the company’s ambitions though, as it aims to repeat the success it has achieved in its homeland by expanding the Bitbuy regulated marketplace across the globe.

Indeed, Kevin O'Leary, a strategic investor in WonderFi recently appeared on Logan Paul's Impaulsive podcast and said "I believe WonderFi will eventually become a giant holding company for all these licensed exchanges around the world".

Therefore, the main value proposition for WonderFi is operating regulated cryptocurrency platforms. This blends well with growing institutional investor interest in the space, which became particularly evident at the Bitcoin 2022 conference in Miami earlier this year. These key players in crypto sense the world is changing and formal regulation could entice more investment to the space.