UniFarm, a global collaborative wealth creation platform with the native token $UFARM, has announced that it would acquire asset-backed non-fungible token (NFT) platform ‘OpenDeFi,’ which has the native token $ORO, in order to reach a larger audience that caters to both the NFT and crypto ecosystems.
UniFarm will incorporate OpenDeFi to form a unified ecosystem that includes staking, lending, and borrowing, as well as NFT and Metaverse.
UniFarm, which was founded in 2021, is a group staking platform that helps users to maximise their token returns while also allowing projects with new tokens to increase their tokens.
UniFarm allows investors and decentralised finance (DeFi) projects to create value by allowing them to stake one token and farm several other tokens, improving their returns and diversifying their portfolio. It supports chains such as Binance Smart Chain, Ethereum, Polygon, and Avalanche.
OpenDeFi, on the other hand, is a platform that promotes the tokenization of real-world assets, provides financial services in a decentralised manner, and uses its DAO ecosystem to enable community-based development of early-stage DeFi businesses. It seeks to contribute to the DeFi ecosystem’s development in a novel approach for wealth creation by allowing worldwide trading while also collecting interest on tokenized assets.
UniFarm, which is growing at a rate of 70% month over month, hopes to create a larger ecosystem by combining the strengths of both platforms in one place.
UniFarm seeks to revolutionise NFTs by utilising the power of collaboration with asset-backed group NFTs, as both OpenDeFi and UniFarm have a shared goal of wealth generation but in distinct paths.
UniFarm, on the other hand, plans to use the technology behind NFTs to provide holders with exclusive access and collaborative community building, as well as dramatically improve the buying, minting, and selling experience.
With the merger, both companies’ utility tokens will be combined into one, with $UFARM serving as the single utility token.
“Both UniFarm and OpenDeFi share a common purpose of wealth generation but into separate domains,” remarked Mohit Madan, CEO and Founder of UniFarm, in response to the merger. Reminiscing on our journey and how far we’ve gone since introducing our first cohort in 2021 to successfully launching 36 cohorts across BSC, Polygon, ETH, and AVAX, with a total stake of $100 million. Not only that, but we’ve created our own launchpad called ‘UNIFARM Launch for the most prospective IDO launches.”
“This merger will integrate $ORO into $UFARM, producing a broader utility for our consumers and increased value capture,” said Tarusha Mittal, UniFarm’s COO and Co-Founder. We want UniFarm to be a one-stop shop for everything Crypto, NFT, and Metaverse.”