A new and fast-growing Silicon Valley startup is helping non-fungible token (NFT) creators and brands unlock billions in untapped utilities and revenue potential for their retail consumers without requiring them to lock up capital or risk exposure to market volatility.
Vera Labs, the firm behind Vera, a NFT decentralized finance (DeFi) protocol backed by Animoca Brands, offers the industry’s leading non-custodial NFT financial platform that allows anyone to perform economic transactions of NFTs requiring conditional ownership such as rentals, lending, subscriptions, financing, and much more. Businesses that build their NFT apps or games with Vera may eliminate hefty development costs, operational overhead, and legal risks while increasing the utility, resale value, and secondary market revenue streams from their NFTs.
Recently at ETHDenver2022, Vera demonstrated its ability to successfully rent metaverse NFTs on three major NFT blockchains – Ethereum, Polygon, and Binance Smart Chain – without collateral. This development came after Vera’s December Ethereum mainnet launch when its team demonstrated the rental of a million-dollar Bored Ape NFT.
“Our vision is to allow anyone to monetize or enjoy the utilities of NFTs, which is why we’re the first multichain protocol to support NFT lending without collateral,” explains Denis Lam, CEO of Vera Labs. “For anyone aspiring to build your next dream startup with NFTs, our team is ready to be your strategic partner to maximize the lifetime utilities and value of your NFTs at scale.”
Since its genesis at the start of 2021, Vera has surpassed $2 million in NFT rental transactions and completed over 50 partnerships and integrations with prominent NFT apps and brands such as OpenSea, Sandbox, Decentraland, Totem, Next Earth, Highstreet, ChainGuardians, Binopoly, and Bored Ape Yacht Club. Over 30 applications and games are currently developing on Vera, resulting in over 100,000 NFTs valued in the tens of millions of dollars that will soon be added to the Vera network.
Yat Siu, co-founder and chairman of Animoca Brands, an early investor in Vera, said, “Vera is building a secure decentralized financial platform that is urgently needed in the NFT space to enable several essential financial services which many of us take for granted in the real world. We look forward to being a catalyst to help Vera become a leading open financial platform for all NFT assets.”
To learn more about Vera, visit their website, Twitter, or CoinMarketCap.
Vera is the best decentralized way to rent, lend, and mortgage non-fungible tokens (NFT). Founded in 2021 and backed by notable investors in the decentralized fintech space such as Animoca Brands and the Web3 Foundation, Vera’s mission is simple: To build open, secure, and powerful NFT financial products that are equally available to everyone everywhere. Using Vera, applications such as metaverses, games, and marketplaces can generate new revenue streams, reimagine user experiences, and empower their communities.
Source : https://www.newswire.com/news/vera-surpasses-2m-in-nft-rentals-launches-on-polygon-and-bsc-at-21651455