1) Thanks for coming by. First of all, what is Vera?
Vera is an open financial platform for non-fungible token (NFT) assets that offer decentralized financing, leasing, lending, seller protection, and other essential financial services for any NFT application.
Vera’s platform is open-sourced and supports NFTs minted on any blockchain such as Ethereum, Polkadot, Solana, Polygon, or Binance Smart Chain.
Using Vera, applications such as NFT marketplaces, games, or metaverses can generate new revenue streams, reimagine user experiences, and empower their communities.
2) Why Vera? And what major problem are you solving?
Vera is building the most powerful open financial platform for non-fungible token (NFT) assets.
In so many cases, we heard people trying to acquire NFT that they can’t afford to buy in full price upfront, and they did not find a solution to finance it. We did extensive research and did not find any good solution that solved this problem. Financing, lending, borrowing are core functions in the financial system, and are must haves for NFT market. And this function is lacking now.
And so here comes Vera. We offer decentralized financing, leasing, lending, and other essential financial services for any NFT marketplace, game, or application.
Our mission is simple: To build open, secure, and powerful NFT financial products that are equally available to everyone everywhere.
As Denis, our founder always say “Vera has already invented the wheel, brakes and steering. Go invent the car.”
3) Tell us more about your products. What makes you special? Can you explain NFT/Metaverse rental/lending to us?
NFT business models today are limited to buy and sell use cases. Vera provides the superpowers to enable essential financial services such as financing, renting, and lending in a secure, reliable, and trustworthy manner so any NFT app can generate new revenue streams, turbocharge Play to Earn, increase user acquisition and retention, reimagine user experiences, and empower communities.
Vera allows NFTs to be more affordable to everyone. This product enables use cases such as:
Vera Finance
- Uncollateralized seller or network financing
- Collateralized seller or network financing
- Buy now, pay later
- Buy now, pay over time (Buy an NFT with instalment)
- Play to own (Buy an NFT and someone else pays for it if you take specific actions in the app or game)
- Seller Protection: In the event of the buyer or borrower failing to fulfil their payment obligations during NFT financing or lending, Vera will ensure the NFT is returned to the valid custodian in a trustless manner.
Vera Rent
Rent allows NFT collectors to earn income or royalties by lending their NFTs to others. If rent is not paid or the rental contract ends, an NFT is returned back to its owner. Use cases made possible by this product include:
- Basic rent/lend
- Rent to buy (Own the NFT after paying enough rent)
- NFT yield farming (Stake your NFT and earn income)
- Subscription (Aggregate NFTs into curated pools available for rent)
- Lender Protection: In the event of the renter failing to pay their rent, Vera will ensure the NFT is returned to the valid custodian in a trustless manner.
How Vera Metaverse Mortgages Work
Games that integrate Vera allow virtual real estate collectors that do not want to sell their cryptocurrencies or cannot afford purchase to receive financing to buy their desired virtual real estate NFTs. Metaverse Mortgage is powered by Vera Finance, one of Vera’s core products that allows consumers to buy NFTs with alternative financing payment options. Note that Vera supports financing for any NFT, not just those in the metaverse.
Learn more here:-
https://blog.vera.financial/vera-metaverse-mortgages-and-nft-financing-a-new-era-of-social-defi-4661117f4310
4) Kindly share with us your tokenmetrics.
We have 1 billion tokens for the total supply. 15% for the team.
Our product development is based largely on community/customer/partnership feedback.
This includes prioritising support for blockchains that have the most NFT projects
5) Elaborate your marketing plans ahead.
Events & Conferences
Our team will be doing several events and conferences – we had recently done NFT.NYC where we launched our test net. There’s an upcoming live event, DCentral Miami starting on 30th November where we will be announcing our mainnet launch.
Community Engagement
We are looking to expand our local communities especially within SEA.
Adding on, we will be adding several activities to increase community engagement and recruitment through social medias and weekly contests.
Social Media Campaigns
We are actively reaching out to KOLs for collaborations, there’d be quite a bit coming up this year, so do check in our channels regularly!
6) What is your technology and development roadmap looks like?
We’re working on the further development of our rental NFT marketplace. We’re onboarding some of our Ecosystem partners to test its capabilities and to start offering new ways for their own communities and ecosystems to transform their NFTs into revenue-generating asset.
We’re also developing our cross-chain liquidity pools and hub so that we can implement mortgaging NFTs and better support major blockchains such as Polygon, Solana, BSC and Polkadot.
November 2021
- Launch Polygon (MATIC ERC-20) bridge for $VERA
- Launch NFT Rentals Ethereum Mainnet + NFT Rentals Marketplace
- NFT Mortgages Ethereum Testnet Initial Release
- Begin inviting Vera Ecosystem Partners to use and test out our NFT Rentals Mainnet
- Begin design of Vera NFT Cross-Chain Liquidity Hub architecture
- Begin design of Vera NFT Liquidity Pools architecture
December 2021
- NFT Mortgages Ethereum Mainnet Launch
- NFT Rentals for BSC and Polygon NFTs
- Complete smart contract audits for NFT Rentals on Ethereum Mainnet
- Development of Vera NFT Cross-Chain Liquidity Hub
- Development of Vera NFT Liquidity Pools
For more information, do check out https://docs.vera.financial/roadmap
7) Where are your key revenue coming from? What other revenue streams should we look out for in the near future?
We have several manners in where Vera generate revenue, but more on revenue streams that come from our core products.
- Vera charges the NFT seller a one-time service fee that’s taken from the buyer’s initial down payment.
- Vera lends out the collateral to others and keeps the earned interest. If the buyer defaults, Vera takes possession of the collateral and the foreclosed NFT which then be resold or auctioned for additional revenue.
- Vera earns revenue from the interest paid on loans.
8) How is your listing plans like?
We are listed on Pancake (DEX), Uniswap (DEX), Bitmart (CEX) and Gate (CEX), we are also working on increasing our listings, so do stay tuned to our latest updates on our channels.
$VERA ♎️ Listed Exchanges
9) You have a gaming system and NFT partners, can you tell us who they are and how will they take part in your ecosystem? What other partners do you have?
We have quite a number of partnerships however due to NDA, we are not able to fully have them disclosed at this point of time.
Focusing on just gaming + NFTs (Metaverses)
We have Totem, Chainguardian, Highstreet, Network
You can read more about them here!
https://blog.vera.financial/tagged/partnerships
For our list of partnerships,
https://docs.vera.financial/ecosystem
10) To end of this segment, can you share an inspiring quote to all of us?
Dream as if you’ll live forever. Live as if you’ll die today. – James Dean
