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NFT Technology Breakthrough as Vera Launches Ethereum

MIAMI, Dec 05, 2021 (GLOBE NEWSWIRE) – Vera, a non-fungible token (NFT) decentralized financial platform (DeFi) that made history today by successfully leasing $ 1.5 million as the first open source protocol Bored Apes Yacht Club NFT “,# 65, “between two strangers immediately after the start of the highly anticipated Ethereum mainnet network in front of over 3,000 visitors at the Sagamore South Beach Hotel while Art Basel Miami.

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The Bored Ape Yacht Club NFT # 65, which was rented on Vera at Art Basel Miami.

The leasing was decentralized and without custody, so that at no time was a fiduciary agent required for the custody of the NFT and no legally valid contracts were required to be signed. Such financial transactions are made possible by Vera’s smart contracts, which are programs stored on a blockchain that are executed when predetermined conditions are met and used to automate the execution of an agreement so that everyone Participants immediately and without any result can be assured of involvement of the intermediary 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 shown a desire for communities to have real ownership of the assets they create, buy or own. But real ownership means that those assets should be able to generate recurring income and be of use beyond speculative purchases and sales. Vera looks forward to addressing these challenges and being the leading pioneer in financializing the next trillion dollar asset class after the advent of bitcoin and cryptocurrencies. “

Michael Arbach, CTO and Co-Founder of Vera Labs, added, “The presentation of this NFT credit and rental demo on our Ethereum mainnet marks a monumental milestone in the fintech industry. are significantly higher and usually increase with the value of the settled assets. With Vera’s decentralized technology, we enable such a service to be carried out with a flat fee regardless of the value of the loaned and lent assets. And if we use our technology in other blockchain networks in the near future such as Polygon, BSC or Solana, we will further reduce these service costs to a negligible level. In addition, our solution is not only much cheaper, but also offers superior security compared to conventional ones centralized approaches, small step in our technology roadmap, but a giant leap forward to enable more applications / use cases of our technology to move into other industries beyond the digital and crypto 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 the BAYC NFT rental company, commented: “I am honored to contribute to the great historic milestone that Vera has achieved in the crypto and NFT space. What made it special to me was that this historic moment was realized in front of thousands of visitors at one of the most epic parties during Art Basel Miami in the presence of legendary artists such as Busta Rhymes, Murdabeatz and NORE, the crypto, NFTs and hip-hop Love culture. “

Vera’s mainnet is a public, permissionless network based on Ethereum that will soon be launched on other major blockchains such as Polygon, Binance Smart Chain, and Solana, so anyone can start using the network to create decentralized financial applications for NFTs that require rent, loans etc mortgage deals.

Founded in early 2021 and supported by well-known investors in the decentralized fintech sector such as Animoca Brands, Sky Vision Capital, Infinity Venture Crypto and the Web3 Foundation (Grant), Vera’s mission is simple: to build open, secure and powerful NFT finances products, which are available for everyone everywhere and are controlled by their native token $ VERA.

About Vera

Vera is the best decentralized way to rent, loan, and pledge non-fungible tokens (NFT). Founded in 2021, Vera’s mission is simple: to create open, secure, and powerful NFT financial products that are equally available to everyone, everywhere. Vera supports NFTs from major blockchains such as Ethereum, Polygon, BSC, Polkadot and Solana. With Vera, applications like metaverses, games and marketplaces can generate new sources of income, rethink user experiences and strengthen their communities.

Follow Vera to stay up to date on any future developments:

Market capitalization for coins: https://coinmarketcap.com/currencies/vera-network
Coin gecko: https://www.coingecko.com/en/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

If you have any questions, please contact: hello@veralabs.com

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