Vera

About Vera

{"time":1704988901000,"blocks":[{"data":{"level":6,"text":"Highlights"},"type":"header"},{"data":{"items":["Vera is the first NFT DeFi project that offers essential financial services, including financing, leasing, and lending for NFT applications.","Through Vera, NFT holders can generate new revenue streams, reimagine the user experience and empower their communities.","Vera is a winner of the Web3 Foundation grant and is backed by the largest NFT gaming company Animoca Brands."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Product"},"type":"header"},{"data":{"level":1,"text":"Vera has four products in its lineup, including Finance, Rent, Lend and Verify."},"type":"header"},{"data":{"items":["Finance allows NFTs from any blockchain to become affordable to everyone, where sellers get seller protection in case the buyer fails to pay.","Rent enables collectors to earn income through royalties by renting out their NFTs to others, staking their NFTs to the network, and aggregating their NFTs into curated subscription pools.","Lend allows NFT owners to take a loan from their assets.","Verify ensures that the buyers are protected and ensures that consistent customers are buying or renting authentic NFTs from their favorite creators or brands."],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Problem"},"type":"header"},{"data":{"level":1,"text":"If you want to buy an NFT on a marketplace or in-game, you have to pay the full price in cryptocurrency assets, and there is no alternative payment option."},"type":"header"},{"type":"paragraph","data":{"text":"Additionally, no financing options exist, and credit cards are not directly supported for NFT purchases due to the risk of theft from chargebacks and refunds. As an NFT owner, you are also limited to selling it again to generate income."}},{"data":{"level":6,"text":"Solution"},"type":"header"},{"data":{"level":1,"text":"Vera has developed the first open platform that enables the financialization of NFTs."},"type":"header"},{"type":"paragraph","data":{"text":"Its core technology is an NFT buy and seller protection service, which ensures that customers are protected from counterfeit NFTs in any marketplace. Creators, brands, and merchants are also protected from customers that fail to pay the rent or make the financing payments for the NFTs they purchase."}},{"data":{"level":6,"text":"Business Model"},"type":"header"},{"data":{"level":1,"text":"Vera intends to use the funds which are raised for product development, where it can secure and audit its smart contracts, and work with Animoca Brands to expand the ecosystem into a multitude of NFT games, metaverses, and customer brands."},"type":"header"},{"type":"paragraph","data":{"text":"It generates revenue from seller financing and rental transaction fees, lending, where lenders lend cryptos to help borrowers finance NFT purchases and their loans, where NFT is issued as collateral and renting and NFT yield farming. Here, creators can stake their NFTs to earn income, where the network takes these NFTs and rents them to the network in various ways, where Vera shares the revenue in the form of royalties back to the creators and stakers."}},{"data":{"level":6,"text":"Market:"},"type":"header"},{"data":{"level":1,"text":"Vera is not aware of any other project quite like this one. As such, we are building our own suite of essential financial tools for NFTs."},"type":"header"},{"type":"paragraph","data":{"text":"The main competitive advantages we have are the first-mover advantage, where Vera is one of the first projects to bring these services to the NFT market, the product and engineering team, which has high domain expertise working on various enterprise clients in the blockchain and NFT space, such as Dapper Labs, Bitrail, Kodak Image Licensing Platform, and others. Vera also has a high market product fit with major games and other NFT projects, as well as compatibility with NFTs minted on any blockchain."}},{"data":{"level":6,"text":"Investors"},"type":"header"},{"data":{"level":1,"text":"Vera raised $4 million USD even before the IDO, with Polkastarter."},"type":"header"},{"type":"paragraph","data":{"text":"The top backers are the Web3 Foundation, Animoca Brands, Sky Vision Capita, Infinity Ventures Crypto, Shima Capital, as well as other world-class venture capital and private equity funds."}},{"data":{"level":6,"text":"Team"},"type":"header"},{"data":{"items":["Denis Lam (CEO at Vera Labs)","Michael Arbach (CTO at Vera Labs)"],"style":"unordered"},"type":"list"},{"data":{"level":6,"text":"Token Utility"},"type":"header"},{"data":{"level":1,"text":"$VERA is a utility token that plays a major role in the Vera Network."},"type":"header"},{"type":"paragraph","data":{"text":"When it comes to incentivizing good behavior from network participants and enabling reliable and trustworthy DeFi services for NFTs. Users can pay in VERA tokens when they choose a Vera Network Financing payment option, and VERA tokens can also be gained as rewards for contributing assets to the Vera Network. Additionally, users can hold or stake tokens to earn dividends from a portion of the network’s revenue and transaction fees."}}],"version":"2.27.2"}