 Hey guys, how you doing? This is your boy Rich from RichTVLive and you too can join the club at richpicksdaily.com where you can learn how to win and trade. Hi, how's everybody doing today? I am your host, Rich, and we have a RichTVLive with our very special guest, Ben Samaru, the CEO of WonderFly Technologies. How you doing today, Ben? Hey, Rich, I'm doing great. How are you? I'm doing fantastic. Big day for Bitcoin today, right around 43,000, Ethereum over 43,000. So really excited to have you on the show today. And my first question is the Bit by Acquisition, what does it mean for WonderFly Technology and its shareholders? The Bit by Acquisition, I mean, I couldn't be more excited about it. So it is the leading crypto exchange in Canada. They have over 400,000 users. They've done over $5 billion in transaction volume to date. So they've been around super and they were also the first licensed marketplace in Canada. So they were granted that license by the Ontario Securities Commission in November. So really kind of a first mover in compliance and regulation. What really drew me to the company was the brand and the management team. I think, you know, as we've talked about before, we've been looking at a number of different acquisitions in the centralized exchange space. And so we're familiar across Canada and with a number of different exchanges and other jurisdictions. But Bit by's management team is extremely talented. And what they bring to the table is really experience from traditional financial institutions. And I see that as setting them up for growth into new markets. So that's something that's really important for us. We don't want to buy a stagnant asset. We want to really find something that has a lot of synergies that's obviously a creative to one or five and that we can work with them on growing. So that's really the big differentiator for Bit by. So this deal opens up a ton of different opportunities for us. And from a shareholder standpoint, Bit by did around $32 million in revenue over the last 12 months. And we're just seeing that number grow. It allows us to expedite the growth of our WonderFi app using Bit by's user base. And there's a number of different synergies across the products and the companies as well as you can probably imagine as they're in very similar areas and both retail consumer facing. And so that's a few of the points of what this really means for WonderFi. And it's also the largest crypto acquisition in Canadian history. So I think we're all both teams are really proud of that. And I personally think it's going to be the starting gun for a consolidation in this space, which I think has been coming for a long time. Very, very excited and can't wait until that is finally completed. Now, can you go through how this is the first acquisition of a regulated crypto exchange in Canada? And can you tell us what that was like? Yeah, absolutely. And I actually think we've been trying to confirm this, but I think it might actually be the first acquisition of a regulated exchange in North America. There have been some in some smaller ones in Europe and other Asia, other jurisdictions, but for a North American regulator, this looks like the first one. And part of that is because Canada was a first mover in granting these licenses. And like I said, Bit by was the first to get the full marketplace license. So that's definitely a big milestone. I'd say working with the regulators, it's never easy, but this was actually quite a great experience. It forced the Canadian regulators to get up to speed on DeFi because they had to understand what one or five business and business model was and product as well. So that has definitely been an interesting experience. And I think one that's really important because the technology just starts to become more and more important, the decentralization aspect and really giving customers and users the opportunity to own and control their own crypto assets, which is really what one or five is all about. So it's been, the process for the regulators has been great. And I think so we announced this acquisition the first day back from the holidays. I think it was January 5th and we got the regulatory approval from the OSCE last week and we'll be closing it before the end of March. So in under three months we'll have announced and close it. And just to put some perspective around the acquisitions of regulated entities and the time that that can take, especially in the crypto space. So Galaxy announced the acquisition of BitGo in May 2021. And they're expecting it to close in Q2 this year. So I'm not trying to compare BitGo to BitBuy just because the size obviously is, you know, it's a 10x basically, but it gives you a sense that's well over a year from announcement to closing. And so I'd say credit due to the Canadian regulators for moving quite quickly on helping us to get this across the line. And I think, you know, part of it is Wanderfaj is a public company, you know, everything from kind of governance to audited financials to, you know, all of the standards that we have to comply with for being listed on a senior exchange like the Neo in Canada sort of helps to vet us as the acquirer and all the changes that are, you know, that sort of flow from that. But yeah, I just wanted to sort of offer that example up as another recent crypto acquisition of a regulated entity and put some perspective around the timing for this BitBuy acquisition. Yeah, I'm super excited. I can't wait to see what the company is going to look like with BitBuy part of their financials. It's going to be an absolute game changer, all of those customers, all of that revenue flowing through the company. It's going to be very exciting. Do you see further consolidation happening in the crypto space? Definitely, especially in the exchange space, in the centralized exchange space, I think the market is really crowded. If we look at just Canada, I think there's over 30 centralized exchanges in Canada and the number is really high. There's obviously a handful of leaders, BitBuy being at the top of the pile, but what that means is companies are really fighting on marketing spend to acquire customers. So the customer acquisition cost for a crypto user trader is just going like this. And then when you look into other markets where some of these global players are like your FTXs and your Coinbase who have essentially unlimited marketing spend, it's an extremely, extremely competitive market. So I think that does open up a lot of conversations and opportunities for people to combine forces that have similar products, similar target customers and see the value of being able to grow a company together versus trying to do it standalone. So I think those conversations are happening at the centralized exchange level. And then we're definitely seeing, I talked about this acquisition as sort of a starting gun for consolidation in this space, which I really believe it is. I can tell you that we've had a lot of inbound and conversations that have been sparked because of this acquisition because people see that one or five is so not only the consolidator now because we've started to do that with Bit by but also really the only vehicle that is owning and sort of offering DeFi and CFI products. And I think there's there's a lot of benefits to doing that. It's something that's that's future proof in a sense where we're not staying sort of invested in the purely in the CFI market, but really investing in the high growth area of DeFi as well. And so we're seeing a lot of kind of conversations around consolidation pop up around that. And then I think also in the in a market like this, the consolidation opportunities grow because it's hard to raise capital. People, you know, companies don't want to go at things on their own. And so, you know, I think the the market is very, very, very ripe for consolidation at this point. And we're, you know, we're actively looking at at opportunities there. Now you touched on this a little bit, Ben, why does owning DeFi and CFI differentiate WonderFi? Right. So it's so I think from a so I'll cover it from two perspectives from a from an investor shareholder perspective, being able to own WonderFi stock means you have exposure to CFI in bit by exposure to DeFi in the WonderFi product. And then we we've also, I think you were talking to Kong a few weeks ago about about the plate earned gaming and NFTs side of WonderFi, which were which were rolling out soon. And so it's really this this whole exposure to digital assets that doesn't really just like usually with other companies, like you'll see standalone centralized exchanges standalone DeFi apps or protocols standalone gaming companies. And so there's, you know, what we what we see is really this big opportunity to realize synergies across these products and then also just create this unified experience for people. So at the risk of using something that's incredibly overused, it's really this Apple ecosystem where you have all these different products that all tie back to digital assets, and then being able to offer single sign on across across these products and and really being able to capitalize on users that you're drawing in for something like gaming and then being able to offer DeFi products to them buying and selling Bitcoin and ETHs through through a licensed exchange and so on and so forth. So the synergies are very real from a from sort of a product perspective. And then one of the things that I think is is a real benefit of this is it increases our ability to innovate. So having a non custodial product has different implications than a centralized exchange as you know as I think you know and so what what it allows us to do is offer new products through one or five and enter into new markets quicker than we would be able to to on the bit by side. So it allows us to test products, test markets, and really explore what the demand and usages for those products and what the user segments look like in those markets before making a capital investment on the bit by side to expand into those areas. So it's really interesting from a product and a market perspective and then also from this unified user journey that we're seeking to to create for our one or five users. So one of the questions that our community was very interested in is what is the entire revenue generation strategy for one or five. Sure, so it's it's pretty simple on the one or five one or five app side. So we're not generating or charging. So we're not generating revenue or charging fees to users right now. Part of the reason for that is as you know, probably a lot of your viewers know the transaction fees, gas fees on Ethereum are are still extremely extremely high and we're just trying to lower the barrier to entry as much as possible. So unlike other platforms, we're not you know, we're not taking a fee on top of that right now. What we're trying to do is just really improve the product, you know, get as many users in as we can and really just create a good experience for them. And as scaling solutions are are developed, that's going to lower the network fees and then allow us to, you know, to reasonably implement a transaction fee. So it would be a sort of a per transaction fee that one or five would implement and and scale that in, you know, in the traditional way that you would see through, you know, through any product that offers like trading services or in the crypto space. So that's the that's the one or five side, which is a transaction fee on the bit by side. That's the again, the traditional centralized exchange model and and bit by has, you know, a very established track record of revenue. I mentioned, you know, over 32 million in revenue over the last 12 months and we expect that number to just continue to grow. And then on the one or five interactive side, there are a couple of different avenues for monetization there. One is in-app purchases, which is basically, you know, allowing people to, you know, to buy certain accessories and, you know, levels and characters within the game. And then the other aspect which we expect to be a big on-ramp for customers and to wonder if I add into bit by is this play to earn aspect. So being able to earn, for example, a Kevin O'Leary character and NFT character, if you pass a certain level, which you can then claim through your Wonderfly wallet. And then the idea there is being able to offer that NFT for trading through Wonderfly and or bit by and that would bring us back to a transaction fee as well. So really, if we kind of zoom out, it's, you know, we're trying to offer the, you know, the most diverse and compelling set of products to people throughout this ecosystem. And then there's transaction fees that happen throughout as people are kind of, you know, captive within Wonderfly. Fantastic. Really excited to see the revenue grow. And we must remind everyone that Wonderfly is essentially a startup. So considering the fact that you guys have only been in business for a few months, you guys are doing quite well. And with this bit by acquisition, I think it's going to be absolutely game-changing like you talked about over 30 million in revenue. So considering we're dealing with a startup less than a year old and very soon 30 million in revenue in the company, I think you guys are definitely starting off really, really nicely as a startup company with some some teeth. Now what's in store for Wonderfly over the next few months? Any catalyst that investors can look forward to for Wonderfly? Yeah, absolutely. It's every month is an extremely busy month and we have a lot of a lot that's in the pipe. So with this bit by closing, it's what we've been doing behind the scenes is is planning out the growth of bit by. So we're really looking at growing it more within Canada, which is an established market for bit by. And more importantly, we're we're looking at growing bit by in other regional markets. So we're looking at markets like Australia, which have a lot of similarities to the Canadian market and bit by has a deal with cogan.com in Australia, which is the biggest online retailer over there for us to be able to use their marketing services and and mailing lists basically to to offer this the bit by product to to those millions of users over there. So that's a very significant deal, something that will differentiate us getting into that market. But really we're going to be looking to grow bit by aggressively into into international markets and take it global. We'll be expanding the one or five product and really offering new access to new protocols and new opportunities within D5 as they as they continue to unfold and become more tried and tested because, you know, again with we're we're we're looking to create better access to D5, but not everything within D5. It's more things that are tried and tested and safe for users to to access. We'll be launching a wonderful interactive and our first couple of games, which will feature celebrity NFTs and different unique brands within the games. So it's going to be a really engaging experience for people and this this brand new on ramp. So people that don't even care about crypto or even know what it is are going to be becoming a wonder fine bit by users by virtue of these games. And then we're working on wonder fight connect as well, which is essentially single sign on across all the brands within the wonder fight ecosystem. So it's, you know, I think when you do consolidations like this, you run the risk. Like if you try and consolidate brands, you run the risk of user attrition. So, you know, if you have a couple hundred thousand users here, a couple hundred thousand brands, you're going to lose a significant amount of those users probably whereas what we're doing is with strong brands like bit by we're maintaining the brand and then we're just creating connectivity across the two so that if somebody sees a product on wonder five that they are interested in that's not on bit by or vice versa, they can seamlessly move over have shared credentials. So it's a really seamless process for them. And then we actually might see, you know, we might see that user base grow and the, you know, the lifetime value of that user increase as well. Yeah, very excited to see all of this unfold. Congratulations on all of your success so far. We're here speaking with the CEO of wonder fight technologies Ben Samaroo. The symbol in Canada is WNDR. The symbol in America is WNDF. Now I must remind you that Rich TV Live is specifically for information and education purposes. Please do your due diligence do your research before you invest in anything we talk about or discuss here on Rich TV Live. Full disclosure, I am an investor of wonder fight technologies, a proud investor. I'm a long term investor because I believe in the sector. I've been in cryptocurrencies and investing in Bitcoin since 2017. You can see all those videos on YouTube when the price of Bitcoin was at a thousand today the price of Bitcoin is sitting at 43,000 US and I believe that we will see wonder fight have similar growth trajectory being in one of the fastest growing sectors in the world in the cryptocurrency sector and focusing on creating a regulated platform which I believe is going to do really, really well. So love to know what you guys think. If you like these videos, please smash the like button, comment down below, share the video everywhere and subscribe and thank you for joining us today. Thank you so much Rich. Always a pleasure. If you're not winning, you're probably not watching. We bring you the winners and we bring them to you first. Thank you for watching everybody. Have a nice day. This is Rich from Rich TV Live with Ben Samu the CEO of wonder fight technologies saying have a nice day. We'll see you guys soon.