ENVELOP secures support for its wNFT technology from Animoca Brands
ENVELOP, a cross-chain NFT protocol, is pleased to announce that Animoca Brands, the legendary company driving digital property rights via NFTs and gaming to help build the open metaverse, is among the first to support wNFT technology developed by ENVELOP.
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 itsNFTs into collateral without worrying about a possible dump of its tokens (ERC/BEP-20), and can define a preferred timelock setup.
For investors and venture capitalists, the wNFT offers the possibility to work with liquidity at any moment without being restricted to any time boundary.
ENVELOP’s wNFTs make the interaction between venture capitalists and the projects they support more accessible by lowering the difficulty of entering and exiting investments deals because wNFTs eliminate risks that the “locker” contract may carry.
“We hope that other projects will adopt this format since it significantly improves the technical interaction between a VC and our protocol. We made investment a seamless process on both ends and provided that extra bit of breathing space to develop new business opportunities,” says Alexander Shedogubov, the CEO of ENVELOP. “A huge thanks goes to Animoca Brands for being a great believer and supporting this innovation.”
Yat Siu, the executive chairman and co-founder of Animoca Brands, commented: “Animoca Brands is delighted to have been among the first to support the wNFT technology developed by ENVELOP. It presents interesting new opportunities in the area of crypto investment, and we see various benefits to using this format.”
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.
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