New York, New York – 14 October 2022 – Vera Labs, the fintech company behind the decentralized finance (DeFi) protocol for non-fungible tokens (NFTs) that demonstrated the the world’s first rental without a caretaker of a million dollar cartoon “Bored Ape Yacht Club” NFT last year, signed an exclusive deal with Lux Partners to bring billions of dollars worth of precious metals and resources to the chain, starting with uranium-backed NFTs.
Vera will become the first decentralized protocol to enable the sale of real-world tokenized assets such as Lux’s uranium-backed NFTs, unlocking billions of dollars of new liquidity and utilities never seen before in Web3. NFTs will be available for sale from October 15 on https://vera.marketand customers who buy them with $VERA coins will get a 10% discount.
Asset-backed NFTs are an example of a growing trend in the NFT space. Industry experts predict that NFTs with real value and utilities are here to stay and will drive mass adoption of Web3 by millions of users. Meanwhile, so-called cartoon NFTs have lost over 97% of their trading volume and value since early 2022.
“Asset-backed stablecoins such as Tether or USDC have accelerated the mass adoption of decentralized finance, the first killer use case of Ethereum Virtual Machine-enabled applications,” explained Denis Lam, CEO of Vera Labs. “Similarly, asset-backed financial NFTs will drive the next killer use case of NFTs, and we are excited to partner with Lux to pioneer this vision.”
“Imagine someone who believes in a real-world asset like gold and wants that asset to be part of their retirement plan,” says Michael Arbach, CTO of Vera Labs. “Using Vera’s non-custodial, self-executing finance smart contracts that support the buyback of physical assets, the investor can buy a million dollar gold NFT today and pay it on 20 years without going through an escrow or middleman, saving thousands of dollars in middleman fees.This unlocks billions of dollars in new business opportunities not possible today.
Zach Kelling, CEO of Lux Partners, said, “We are excited to form a strategic alliance with Vera Labs to enable decentralized finance applications powered by Lux’s asset-backed NFTs. Real assets must do more than buy, sell, or hold, and Vera is the holy grail for enabling non-custodial, compliant business transactions for our NFTs, with minimal legal fees and fixed or negligible transaction costs, whether the asset is worth $100 or $1 billion. .”
Lux Uranium offers a convenient, safe and easy-to-use investment alternative for modern investors interested in holding uranium, backed by verified reserves of an increasingly valuable resource. With a global market that exceeds $10 billion, uranium is the most important natural resource for nuclear power generation and is found in abundance only in certain regions of the world. One uranium fuel pellet creates as much energy as one ton of coal, 149 gallons of oil or 17,000 cubic feet of natural gas.
Recently, Lux signed a five-year exclusive supply agreement with Madison Metals who will deliver up to 20 million pounds of U3O8 from their global uranium projects.
To learn more about Lux Uranium, explore: https://lux.market/uranium
To learn more about Vera Labs, explore: https://veralabs.com
About Vera Labs
Vera Labs is an American financial technology company behind the development of Vera, a DeFi protocol that allows rent, lend and buy now pay later for NFTs on any blockchain. Vera’s vision is to increase Web3’s gross domestic product and empower communities by enabling anyone to easily share and monetize their NFTs. If Bitcoin (BTC) is the new digital currency for electronic cash payments replacing the need for banks, then Vera coin is the new digital currency for NFT transactions replacing the need for escrows or middlemen. Vera Labs enables brands, creators, metaverses, and institutions to implement utility and DeFi use cases with NFTs such as memberships and loyalty programs in a consumer-friendly and compliant way. Vera executives have extensive experience developing blockchain technologies for a wide range of clients such as NASA, Northern Trust, Daikin, Barett Jackson, and Academy Award-winning Hollywood actors. Additional information can be found at VeraLabs.com.
About Lux Partners
Lux is an Isle of Man domiciled fintech company associated with a regulated and licensed money transfer business. Lux enables institutions to take advantage of blockchain technology use cases in a tax-efficient and regulated environment, with proper compliance, Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. The managers of Lux have a long experience in managing transactions and investments in a wide range of industries. Institutions and governments can send and receive tokenized assets, with proper compliance, KYC and AML procedures. Lux processes both crypto and fiat transactions, given its ability to natively process SWIFT and US Federal Reserve transfers from the blockchain while offering the highest levels of security and privacy through the Lux Bridge, which uses zero-knowledge proofs to secure assets and enable private transactions on the Lux Network. Lux is uniquely positioned to launch a host of highly profitable, risk-weighted, highly scalable verticals in large, fast-growing markets. These verticals include secure transaction processing, asset management, DeFi ecosystems, and tokenized investments in natural resources and emerging markets. Additional information can be found at Lux/about.
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