Vera exceeds $2 million in NFT rentals, launches on Polygon and

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DENVER, March 08, 2022 (GLOBE NEWSWIRE) — A new, fast-growing Silicon Valley startup is helping non-fungible token (NFT) creators and brands unlock billions of untapped utilities and revenue potential for their consumers without requiring them to lock in capital or risk exposure to market volatility.

Vera Labs, the company behind Vera, an NFT (DeFi) decentralized finance protocol backed by Animoca Brands, offers the industry’s leading non-custodial NFT financial platform that enables anyone to conduct economic NFT transactions requiring conditional ownership such as rentals, loans, subscriptions, financing and more. Companies that build their NFT apps or games with Vera can eliminate high development costs, operational overhead, and legal risk while increasing the utility, resale value, and secondary market revenue streams of their NFTs.

Recently at ETHDenver2022, Vera demonstrated its ability to successfully lease metaverse NFTs on three major NFT blockchains – Ethereum, Polygon, and Binance Smart Chain – without collateral. This development came after Vera’s Ethereum mainnet launched in December, when her team demonstrated leasing a $1 million Bored Ape NFT.

“Our vision is to enable anyone to monetize or profit from the utilities of NFTs, which is why we are the first multi-chain protocol to support collateral-free NFT lending,” says Denis Lam, CEO of Vera Labs. “For anyone aspiring to create their next dream startup with NFTs, our team is ready to be your strategic partner in maximizing the lifetime utilities and value of your NFTs at scale.”

Since its genesis in early 2021, Vera has surpassed $2 million in NFT rental transactions and has completed over 50 partnerships and integrations with leading NFT apps and brands such as OpenSea, Sandbox, Decentraland, Totem, Next Earth, Highstreet, ChainGuardians, Binopoly, and Bored Ape Yacht Club. Over 30 apps and games are currently in development on Vera, resulting in over 100,000 NFTs valued at tens of millions of dollars that will soon be added to the Vera network.

Yat Siu, Co-Founder and Chairman of Animoca Brands, one of Vera’s early investors, said, “Vera is building a secure decentralized financial platform that is urgently needed in the NFT space. to enable several essential financial services that many of us take for granted. in the real world. We look forward to being a catalyst in helping Vera become a leading open finance platform for all NFT assets.

To learn more about Vera, visit their website, Twitter, or CoinMarketCap.

About Vera

Vera is the best decentralized way to lease, lend, and mortgage non-fungible tokens (NFTs). 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 create open, secure and powerful NFT financial products that are equally accessible to everyone everywhere. Thanks to Vera, applications such as metaverses, games and marketplaces can generate new sources of revenue, reinvent user experiences and empower their communities.

For any request, please contact: [email protected]

Related Images

Image 1: Vera @ EthDenver

The Vera team demonstrates renting and lending NFT at an ETHDENVER2022 event.

Image 2: Demo without any guarantee

Demonstration of lending an NFT on a Vera-enabled app without requiring collateral.

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