Envelop is signing a technical partnership agreement with Weld.money
Weld.money and Envelop are glad to announce that they have entered into a long-term partnership to cross-use each other’s proprietary systems to enable more opportunities for both user communities
25–01–2022 Envelop, a flexible cross-chain toolset able to give NFTs new functionality, is proud to announce the mutually beneficial partnership with Weld.money, a cryptocurrency card allowing easy connection of crypto wallets and any daily use payments via the contact of the card and the POS terminal.
The joint Envelop-Weld.money journey assumes a partnership divided into several stages. As one of the parts of the collaboration, the nature of this partnership concludes an agreement, where Envelop will wrap Weld.money’s NFT in collateral and enable receiving tokens of Weld.money’s tokens or tokens of the partner projects.
A wNFT (wrapped NFT) is an upgraded NFT with expanded functionality such as economic set-up, on-chain royalties, rental mechanism, time/value/event-locks, protection of devaluation, and anti-fraud system. There are numerous competitive advantages to wNFT technology. Thanks to this format, a business can wrap its NFTs into collateral without worrying about a possible dump of its tokens (ERC/BEP-20) and define a preferred timelock setup. The wNFTs with transactional collateral will allow the first owners to receive on-chain royalties from future sales.
Another point of this partnership agreement is that Weld.money will serve as a fiat payment gateway for Envelop. This will create a seamless bridge for Envelop’s users and allow them to connect a fiat card to their DeFi gaming account and buy NFT as an entrance.
“We are humbled to partner up with Weld.money. We hope that this partnership can inspire more businesses to make a conscious effort to experience all the benefits of wNFTs,” says Alexander Shedogubov, the CEO of Envelop
Aside from the outlined partnership activities, Envelop and Weld.money are currently in dialogue to enhance the nature of their partnership and present new activities for both communities’ users.
ENVELOP is a cross-chain protocol that utilizes NFT as storage for cryptocurrencies or additional NFTs in a process called “wrapping.” Using the protocol, it’s possible to add any digital asset inside NFTs. The assets, also known as collateral, can range from static to dynamic, with custom programmable fees charged with every transaction and stored into a vault for later withdrawals.
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