In Brief:
- Vera made history by renting a $1.5M Bored Apes Yacht Club NFT, “#65,” between two anonymous users.
- This occurred shortly after Vera’s highly anticipated Ethereum mainnet network launch.
- Vera also aims to deploy its technology on other blockchain networks such as Polygon, BSC, or Solana.
The leading NFT DeFi platform, Vera, set a record by renting a $1.5 million Bored Apes Yacht Club NFT, “#65,” between two anonymous users.
According to the press release, this occurred shortly after the Sagamore South Beach Hotel hosted an event for Vera’s highly anticipated Ethereum mainnet network launch in front of an audience of over 3,000 people at Art Basel Miami.
The NFT rental was decentralized and non-custodial, indicating that no financial intermediary was required to take control of the NFT, or legal contracts needed to be signed.
Vera’s smart contracts, which are programs recorded on a blockchain that run when preset circumstances are satisfied, enable such financial transactions.
The contracts are used to automate the implementation of an agreement so that all parties may be certain of the outcome right away, without the need for any intermediaries or time-wasting.
Because of Vera’s decentralized technology, such services can be provided for a flat rate, independent of the value of the assets given and borrowed.
The CEO and Founder of Vera Labs, Denis Lam, stated, “The tremendous interest in NFTs this year has demonstrated the desire for communities to have true ownership of the assets they create, purchase, or own. But true ownership means that these assets should have the ability to generate recurring income and have utility beyond speculative buying and selling. Vera is excited to tackle these challenges and be the leading pioneer for the financialization of the next trillion dollar asset class after the advent of Bitcoin and cryptocurrencies.”
Vera also intends to deploy its technology on other blockchain networks shortly, such as Polygon, BSC, or Solana, lowering the cost of service even further.
Vera claims that their technology is not only more cost-effective but also more secure than traditional centralized solutions.
The CTO and Co-Founder of Vera Labs, Michael Arbach, added, “Showcasing this NFT lending and rental demo on our Ethereum mainnet presents a monumental milestone in the fintech industry. The overhead costs required for a centralized escrow service provider is significantly higher and usually increases along with the value of transacted assets.”
Just a few days back sports apparel giant Adidas announced via Twitter that it’s taking the first step into metaverse through executing deals with Bored Ape Yacht Club. The firm didn’t forget to upload Bored Ape as its Twitter display picture.
