NFTs have been the most buzzing word in the blockchain and crypto space in 2021 marking a whopping $44.2 billion industry and the trend ain’t stopping anytime soon. Realizing how NFTs are evolving by the day, global collaborative wealth creation platform ‘UniFarm’ with native token $UFARM announced that it is going to absorb asset-backed NFT platform ‘OpenDeFi’ with native token $ORO to access a wider audience catering to both NFT and crypto ecosystem.
Founded in 2021, UniFarm is a group staking platform that allows users to maximize their returns on their tokens and allows projects with a new token to be able to grow their tokens. Supporting chains like BSC, ETH, Polygon, and AVAX, UniFarm provides investors and DeFi projects to create value by allowing them to stake one token and farm numerous other tokens hence increasing their returns and diversifying their portfolio. Whereas, OpenDeFi is a platform that encourages tokenization of real-world assets, providing financial services in a decentralized mechanism, and also enabling the community-based development of early-stage DeFi projects through its DAO ecosystem. It aims at contributing to the developments of the DeFi ecosystem in an innovative way for wealth creation as it allows global trading and at the same time earning interest on tokenized assets.
Growing at 70% on a Month on Month basis, UniFarm, with this merger, aims at creating a wider ecosystem that caters to the strengths of both platforms all in one place. Since, both OpenDeFi and UniFarm have a common aim of wealth creation but in different directions; UniFarm with this merger, intends to revolutionize NFTs by harnessing the power of collaboration with asset-backed group NFTs. UniFarm intends to harness the technology behind NFTs to enable holders exclusive access, and collaborative community building, with significantly improving the experience of buying, minting and selling NFTs. Looking at UniFarm’s social posts, we learn that the NFTs are soon to launch and are on the lines of the Bored Ape Yacht Club trend - learn more.
With the merger, the utility token for both companies will also merge into one with $UFARM being the sole utility token. With the merger, $ORO holders will be able to claim $UFARM token at UniFarm’s site- https://app.unifarm.co/oro-ufarm-merger
Commenting on the merger, Mohit Madan, CEO & Founder, UniFarm said:
“Both UniFarm and OpenDeFi have a common objective of wealth creation but into different spheres. Reminiscing our journey and how far we have come from launching our first cohort in 2021 to successfully launching 36 cohorts across BSC, Polygon, ETH and AVAX with $100 Million + staked so far. Not just that, we have also come up with our own launchpad ‘UNIFARM Launch for the upcoming and most promising IDO launches.”
Adding further, Tarusha Mittal, COO & Co-Founder, UniFarm said:
“This merger will absorb $ORO into $UFARM creating a larger utility for our users and improved capture of value. We wish to make UniFarm a one-stop solution for all things Crypto, NFT and Metaverse.”
Post this merger, UniFarm is set to announce some new and exciting features as well product launches in the next quarter.
Unifarm is a one-of-a-kind staking protocol that brings together various DeFi projects in a single space and helps in long-term holdings. The aim is to create a collaborative platform for wealth creation. It has a user base of 12000+ and has had farms with the likes of Matic, MantraDao, Paid Network, Razor, Reef, TVK, etc. It is a one-of-its-kind staking solution that protects its users from token price fluctuations and selling pressure.
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Lumos Labs (Formerly IBC Media)