ENVELOP receives investment from Animoca Brands to build a protocol providing vault and oracle features for NFTs
22 October 2021. ENVELOP, a cross-chain NFT protocol announced that it has secured “investments” from Animoca Brands, the global leader in blockchain gaming and NFTs. This cooperation will allow ENVELOP to collaborate with certain of Animoca Brands’ subsidiaries, projects, and partners to release NFTs with expanded functionality that will set them apart from most other offerings in the rapidly evolving industry.
The ENVELOP protocol uses a cross-chain system that allows an NFT to be used as a static or dynamic vault for storing cryptocurrencies or other NFTs. This feature gives users the ability to add unique collateral and royalty settings to their NFTs. Users can also apply the ENVELOP Oracle as a tool to assess and evaluate NFTs. ENVELOP protocol has been created to provide an effective solution to address existing NFT marketplace issues on evaluation/devaluation, liquidity, and the lack of advanced royalty settings.
“We are glad that Animoca Brands has joined the list of ENVELOP “investors”, and we are confident that Animoca Brands’ support will allow us to accelerate the development of our protocol and its implementation,” said Alexander Shedogubov, CEO of ENVELOP. “We believe that the NFT industry is still at the beginning of its growth and in order to become more mature, it is necessary to show users all the remarkable things that can be accomplished with NFTs.”
Yat Siu, the executive chairman and co-founder of Animoca Brands, said: “We see great potential in the ENVELOP protocol and in the use of wrapped NTFs in the gaming industry, and we believe that these technologies will contribute to the emergence of new mechanics and use cases that will improve adoption of GameFi.”
ENVELOP has received support from a number of prominent “investors” including Waterdrip Capital, YBB Foundation, LucidBlue Ventures, LD Capital, Damo Labs, Lancer Capital, Cypher Ventures, and others. ENVELOP products will become available for the public later this month
ENVELOP is a flexible cross-chain toolset that gives any NFT new functionality (economic set-up, on-chain royalties, rental mechanism, time/value/event-locks), scoring and anti-fraud system. ENVELOP features are easily implemented in GameFi, Marketplaces, Art, Metaverses, and non-pledge NFT-rentals. For more information visit https://envelop.is
About Animoca Brands
Animoca Brands, ranked in the Financial Times list of High Growth Companies Asia-Pacific 2021, is a leader in digital entertainment, blockchain, and gamification. Animoca Brands develops and publishes a broad portfolio of products including the REVV token and SAND token; original games including The Sandbox, Crazy Kings, and Crazy Defense Heroes; and products utilizing popular intellectual properties including Formula 1 ®, Marvel, WWE, Power Rangers, MotoGP™, and Doraemon. Animoca Brands’ portfolio of blockchain “investments” includes over 100 of the most promising NFT-related companies and projects. For more information visit www.animocabrands.com or follow on Twitter or Facebook.
Animoca Brands: firstname.lastname@example.org
In this case, the word “investment” and all its derivatives are used for ease of reference only, as the NIFTSY token is Utility, as stated in the general disclaimers and other service documents.