Vera is a Decentralized Protocol for Essential Financial Services for NFTs
Grace Mahas — May 20, 2022 — Business
References: instagram & vera.financial
Vera is a decentralized protocol designed to easily allow essential financial services for NFTs including renting, lending, and mortgages. According to the brand, "decentralized protocols are non-custodial, meaning digital assets and NFTs are not owned by any middleman or intermediary."
Lending or renting NFTs allows users to list their NFT on the marketplace with the user's specified rental terms. The NFT mortgages are available as both seller financing and network financing. According to the brand, "network financing may or may not require collateral and allows you to purchase an NFT with a loan provided by our network, and you will pay back the loan plus interest over time."
Thus far, Vera has joined forces with GoldenDAO, Krypital Group, and Fathom Yacht Clubs -- to name a few.
Image Credit: Vera
Lending or renting NFTs allows users to list their NFT on the marketplace with the user's specified rental terms. The NFT mortgages are available as both seller financing and network financing. According to the brand, "network financing may or may not require collateral and allows you to purchase an NFT with a loan provided by our network, and you will pay back the loan plus interest over time."
Thus far, Vera has joined forces with GoldenDAO, Krypital Group, and Fathom Yacht Clubs -- to name a few.
Image Credit: Vera
Trend Themes
1. NFT Financial Services - The demand for essential financial services like renting, lending, and mortgages for NFTs is growing, offering disruptive innovation opportunities in the fintech space.
2. Decentralized NFT Marketplaces - The emergence of decentralized NFT marketplaces allows users to trade without intermediaries, creating opportunities for new platforms addressing privacy and security concerns.
3. NFT Collateralization - The use of NFTs as collateral for loans and financing introduces innovative financial products to monetize digital assets and increase liquidity.
Industry Implications
1. Fintech - The expansion of NFT-driven financial services offers opportunities for fintech companies to develop innovative platforms, products, and services tailored to NFT trading.
2. Blockchain Development - The growth of NFT rental platforms and marketplaces requires advanced blockchain technology, opening opportunities for blockchain developers and experts to cater to this booming market.
3. Digital Art & Entertainment - The NFT rental platforms and financial services offer new opportunities for artists and creators to monetize their digital works, opening up innovative revenue streams for the digital art and entertainment industry.
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