Kevin O'Leary-Backed WonderFi Buys Blockchain Foundry, Bolsters Web3 Capabilities

WonderFi Technoloies Inc. WONDF agreed to acquire Blockchain Foundry Inc. BLFDF, a blockchain development firm, in an all-stock deal.

The transaction is reportedly valued at about C$12.6 million (US$9.5 million), according to Beta Kit.

The deal comes one week after WonderFi, which is backed by "Shark Tank" host Kevin O'Leary, applied to list on the Nasdaq Inc NDAQ, and less than six months after its Coinberry acquisition. The Vancouver, Canada-based company says it is committed to mending inequalities of current finance ecosystems, and establish a “unified access” to digital assets.

In June, WonderFi told Benzinga that its focus is on regional dominance, international offense, and community development.

Accordingly, the brand engaged in several strategic acquisitions and partnerships to gain market share, as well as position itself as the go-to on-ramp for exposure crypto, whether centralized or decentralized, NFTs and play-to-earn gaming.

By acquiring Blockchain Foundry, WonderFi further exposes itself to “more accretive assets” that it can leverage in building a solid foundation for growth across NFTs and beyond.

“This acquisition further solidifies WonderFi as the Canadian leader in the digital asset space,” said Ben Samaroo, CEO of WonderFi.

BCF is "on a great trajectory,” Samaroo said. The acquisition has the “potential to compliment [WonderFi’s] core operating crypto asset trading platforms Bitbuy and Coinberry, while also adding cash, liquid assets, and a portfolio of private emerging crypto investments to WonderFi’s balance sheet," he added.

Blockchain Foundry CEO Dan Wasyluk praised the WonderFi team, its “complementary product mix” and its “deep expertise in Web3.”

“There are numerous operational and consumer synergies which we can capitalize on to enhance opportunities across a range of Web3 experiences,” Wasyluk added.

Earlier this year, BCF launched LastKnown, an NFT minting platform and marketplace for NFT drops. In May, BCF launched a beta version of Metacademy, a learn-to-use environment for crypto.