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Saturday, June 25, 2022

Vera Exceeds $2 million In NFT Rentals With Or Without Collateral

Vera is a protocol of NFT DeFi that is backed by Animoca and is slowly becoming the most successful multichain business that is required to mortgage or rent NFTs without or with any kind of collateral. There is a rapidly growing startup that is aiding the NFT brands and creators to unlock a huge amount of money in utilities that will be untapped and they are not asking for any locked capital. 

What Is Next For Vera?

Vera usually offers all the NFT financial platforms which are non-custodial to allow the transaction which requires ownership on a conditional basis like as subscriptions, rentals, financing, and many more. Thus, any business organization that will associate themselves with Vera can get past all the operational overhead costs, development costs, and risk from the legal side which can occur due to an increase in the value of resale, utility, and many more. 

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In recent times, at ETHDenver 2022, Vera showed that they could easily rent metaverse NFTs on ETH, BNB, and Polygon, who are the leading blockchains of NFT without any question of collateral. This advancement occurred after Vera launched ETH mainnet this December where a team of Vera showed that they rented Bored Ape Yacht Club NFT which is worth a million dollars. 

The initiation of this project started in 2021 and has now moved past $2 million rental transactions in NFT and also has completed 50 integration and partnership with leading NFT brands and applications like Highstreet, Binopoly, Totem, The Sandbox, ChainGuardians, and many more. 

In the upcoming year, it can also launch more blockchains like Solana and P2P rental. As per the Panony group, they won the award of Best DeFi App for the year 2021 and also a grant from the foundation of Web3. It also raised approximately $3 million as seed funding from investors like Sky Vision Capital, Animoca, Infinity ventures, and many more.

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