Envelop receives a supporting grant and signs a technical partnership agreement with Swarm
17–12–2021 Envelop, a flexible cross-chain toolset able to give NFTs new functionality, is proud to announce the mutually beneficial partnership with Swarm, a decentralized storage and communication system for a sovereign digital society, after receiving a supporting grant to further build out Envelop with Swarm’s technology.
The joint Envelop-Swarm journey has started shortly after Envelop has applied for a Swarm grant. Swarm supports various exciting projects that are already building their products on top of their system. Beyond their grants initiative, Swarm also mentors the developers and founders as a part of their support offering in which Envelop happened to be seen as the promising upcoming startup that was worth getting such a support package.
After a series of discussions, both Envelop and Swarm found a way to collaborate. The partnership was concluded to aim and integrate Envelop’s technological proprietary system into Swarm’s system of peer-to-peer networked nodes. This way, Envelop will have the opportunity to feed their Oracle with the data from Swarm’s decentralized storage and communication system, whereas Swarm will receive Envelop’s metadata in their repository.
“Swarm is a great partnership we could obtain. It offers us potentially in many markets we serve! We’d like to take this special opportunity to say once again thank you for believing in us and we’re excited about a prosperous future together,” says Alexander Shedogubov, the CEO of Envelop.
“This collaboration allows us not only to push the boundaries of what is possible to do with an immutable and unstoppable storage but also to be part of an exciting and promising project that is expanding and exploring the functionalities offered by NFTs,” says Gregor Žavcer, Director at the Swarm Foundation.
Aside from the outlined partnership activities, Envelop and Swarm are currently in dialogue to enhance the nature of their partnership and present new activities for both communities’ users. Stay tuned for further updates.
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.
Find us on:
Twitter CEO: https://twitter.com/aleks_env
Swarm is a system of peer-to-peer networked nodes that create an unstoppable and censorship-resistant decentralized storage and communication service. The system is economically self-sustaining due to a built-in incentive system enforced through smart contracts on the Ethereum blockchain.