How Did The BioPower Operations (BOPO) Stock Skyrocket In The Last Session, Jumping 37%?

The price of BioPower Operations Corp (OTCPink:BOPO) rose 37.48% to $0.3848 at the close yesterday. A volume of 160.01K units was recorded for BOPO, compared with its average weekly volume of 62.49K units. BOPO’s stock rose thanks to its NFT efforts.
What NFT efforts has BOPO made?
BioPower intends to focus on managing the HyFi Platform via its subsidiaries. With the help of blockchain technology, HyFi Platform proposes to create a decentralized finance (DeFi) exchange marketplace. Aventura, Florida is the headquarters of BOPO, which was established in 2010.
HYFI Corp., a wholly owned subsidiary of BioPower, has pre-launched a blockchain marketplace called the NFT Blockchain Marketplace. HYFI NFT Marketplace is a blockchain-based DeFi platform that serves three functions:
1. As a result of fractional ownership, investors receive fixed returns and potential bonuses as a result of payouts
2. Aside from IP, patented technologies, licenses, and projects, Hyfi NFT Platform can also be used to raise capital
3. It is possible for brokers to earn money on DeFi
A series of financial services ecosystems based on DeFi principles will be launched by the end of the year and can be accessed by anyone and everyone without exception. HyFi Token will serve as the governance token as well as a payment token for Platform transactions. A cash flow NFT will initially be incorporated into the HyFi Platform. As part of the rebranding, BOPO is changing its name to HYFI and changing its symbol.
A few assets related to the HyFi blockchain technology were recently acquired by BioPower Operations. The acquisition was completed on June 29, 2021.
BOPO received $300,000 from the sellers as part of the acquisition, which will be used for public company operating expenses and to bring BOPO into reporting status with the Securities and Exchange Commission. BOPO received 400 million HyFi Tokens from the sellers, which will be used for payment on the HyFi Platform, a decentralized finance platform (DeFi) will be implemented by the end of the year.
How has BOPO completed the transaction?
BOPO agreed to issue 900,000 Series C convertible preferred shares to the sellers in exchange for the HyFi assets and the $300,000. BioPower (BOPO) will issue these shares after increasing its shares authorized and designating the Series C convertible preferred shares. HyFi Token plans on being listed on a well-established exchange by the end of 2021. A total of 405 million common shares will be issued after the conversion of 900,000 Series C preferred shares. BOPO’s CEO Robert Kohn resigned in connection with the acquisition but remained on the board of directors.

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