Oort Digital x Envelop Integration Progress Report
Oort Digital had built a strategic partnership with Envelop, an NFT multicross-chain and wrapping protocol aimed at building an NFT collateral-free leasing APP, to provide a better play-to-earn and Metaverse experience for both games players and NFT owners.
This Report provides an update on our integration progress with Envelop’s wrapping protocol and more cooperation details.
Integration Progress
Envelop has delivered wrapping technology for all NFTs (both ERC-1155 and ERC-721). Envelop has implemented a zero-collateral leasing function as well as online support for the zero-collateral leasing on both Polygon and BSC.
Oort Digital has created Hero NFTs to be leased with zero-collateral in RPG battle games. NFTs are enabled to supply the leasing pool with a “batch listing” feature. NFTs on both Polygon and BSC networks can use project leasing (over-collateral leasing).
How does the partnership benefit both Oort Digital and Envelop communities?
By cooperating with Envelop, Oort Digital can achieve collateral-free leasing for NFTs, significantly reducing the borrowing costs for the borrower while minimizing the leasing risk faced by the lender. By adding application laters (games, DeFi, Metaverse) on top of Envelop and letting Envelop protocol become the backbone of the Oortverse, Oort Digital will also create more value to accelerate wider adoption of Envelop’s protocol across the globe.
Revenue Share
Oort Digital and Envelop have launched V2.0 NFT Leasing App, and users use it daily. V3.0 NFT Leasing App that supports both BSC and Polygon NFTs, batching listing, and zero-collateral for some NFTs, will be launched in April.
When integration with Envelop’s wrapping protocol is complete, Oort Digital will share the collateral-free leasing revenue with Envelop by a certain proportion while both games players and NFT owners have a better play-to-earn and Metaverse experience.
About Envelop
Envelop is a multi-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 vaults, can range from static to dynamic, with custom programmable fees charged with every transaction and stored in a vault for later withdrawals.
About Oort Digital
Oort Digital is a GameFi 3.0 ecosystem that adds utility-based functionality on top of NFTs and puts them to work through financialization, gamification, and interoperability.
Oort Digital combines Oort NFT and Oort RPG with Oort Meta to create an expansive and immersive GameFi 3.0 experience for games and NFT enthusiasts.
Oort Digital will be joining us for a text based AMA to talk about the partnership on Wednesday 27th of April at 1 pm UTC
