Home Rental industry NFT Technology Breakthrough As Vera Launches Ethereum

NFT Technology Breakthrough As Vera Launches Ethereum


MIAMI, December 5, 2021 (GLOBE NEWSWIRE) – Vera, a non-fungible token (NFT) decentralized finance (DeFi) platform, made history today by becoming the first open source protocol to successfully lease $ 1.5 million Bored monkeys nautical club NFT, “# 65, “between two strangers immediately after the launch of his highly anticipated Ethereum main network network in front of a crowd of more than 3,000 participants in the Sagamore South Beach Hotel during Art Basel Miami.

The Bored Ape Yacht Club NFT # 65 which was chartered from Vera at Art Basel Miami.

The tenancy was decentralized and non-custodial, meaning that no escrow intermediary was required to take over custody of the NFT at any time, nor any legal contracts to be signed. Such financial transactions are made possible by Vera’s smart contracts, which are programs stored on a blockchain that run when predetermined conditions are met, and are used to automate the execution of a deal so that all participants can be immediately certain of the result, without any involvement of the middleman or loss of time.

Denis Lam, CEO and Founder of Vera Labs, the company that develops Vera, said: “The tremendous interest in NFTs this year has demonstrated the desire of communities to have true ownership of the assets they create, buy or own. . But true ownership means these assets should have the capacity to generate recurring income and have utility beyond speculative buying and selling.Vera is excited to meet these challenges and pioneer the financialization of the next. trillion dollar asset class after the advent of Bitcoin and cryptocurrencies. “

Michael Arbach, CTO and Co-Founder of Vera Labs added, “Showing this NFT loan and lease demo on our Ethereum backbone represents a monumental milestone in the fintech industry. The overhead costs required for a centralized escrow service provider are considerably higher and generally increase with the value of the assets traded. By using Vera’s decentralized technology, we allow this service to be performed with a fixed fee regardless of the value of the loaned and borrowed assets. And when we deploy our technology on other blockchain networks in the near future such as Polygon, BSC or Solana, we will further reduce this cost of service to a negligible amount. In addition, our solution is not only much more cost effective, but also offers superior security compared to traditional centralized approaches. Our launch is a small step in our technology roadmap but a giant step towards granting our technology more applications / use cases to enter other industries beyond digital and cryptonative arts such as event passes, ticketing, music, entertainment, games, metaverse and much more! “

Bob Murray, member of the Bored Ape Yacht Club and owner of rental BAYC NFT, comments: “I am honored to contribute to the huge historic milestone that Vera has taken for the crypto space and NFT. What made it special to me, this is this historic moment was achieved during one of Art Basel Miami’s most epic parties attended by legendary artists like Busta Rhymes, Murdabeatz and NORE in front of thousands of attendees who love crypto, NFTs and hip hop culture.

Vera’s mainnet is an unlicensed public network built on Ethereum and soon launching on other major blockchains such as Polygon, Binance Smart Chain, and Solana, so anyone can start using the network to build decentralized financial applications. for NFTs that require leasing, lending and mortgage transactions.

Founded in early 2021 and backed by notable investors in the decentralized fintech space such as Animoca Brands, Sky Vision Capital, Infinity Venture Crypto, and the Web3 Foundation (grant), Vera’s mission is simple: to create open NFT financial services. , secure and powerful. products that are also available to everyone everywhere and governed by its native token $ VERA.

About Véra

Vera is the best decentralized way to rent, lend, and mortgage Non-Fungible Tokens (NFTs). Founded in 2021, Vera’s mission is simple: to create open, secure and powerful NFT financial products that are equally accessible to everyone, everywhere. Vera supports NFTs from major blockchains such as Ethereum, Polygon, BSC, Polkadot, and Solana. Thanks to Vera, apps like Metaverse, Games and Markets can generate new revenue streams, reinvent user experiences and empower their communities.

Follow Vera to stay up to date with all future developments:

Market capitalization of coins: https://coinmarketcap.com/currencies/vera-network
Coin Gecko: https://www.coingecko.com/fr/coins/vera
Website: https://vera.financial
Blog: https://blog.vera.financial
Twitter: https://twitter.com/veradefi
Telegram: https://t.me/veranetwork
LinkedIn: https://linkedin.com/company/vera-labs
BTIG report: https://bit.ly/3cJAM4F

For any request, please contact: [email protected]

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