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Peak Finance, NFTA, and Envelop as the keys to next-generation NFT functionality on Layer-2 Metis Andromeda
Peak Finance & NFTA have an affiliate partnership with Envelop (NIFTSY) protocol to deliver next-generation wrapping technologies on Metis Andromeda and beyond
AUSTRALIA, November 2, 2022 /EINPresswire.com/ — Peak Finance and NFTA have an affiliate partnership with Envelop (NIFTSY) protocol to deliver next generation wrapping technologies to unlock practical use cases for NFTs on Metis Andromeda Layer-2, and beyond.
Envelop is a public-utility that has been under development for 3 years, their wrapping protocol has been battle-tested to unlock reverse-compatible utility for NFTs. The wider NFT and cryptocurrency ecosystem is only now beginning to realize that the next stage of NFTs is headed beyond speculation and toward utility.
Peak Finance will be an NFT Wrapping hub on Metis Andromeda, supported by the team and DAO over at Envelop. The recently released Peaking Duck NFTs is the first step to taking this “Tomb-fork” to places never explored.
By wrapping Peaking Duck NFTs, DeFi users will be able to apply collateral to their NFT that enhances earning potential during liquidity mining events. With no upfront fees, wrapped NFTs can be traded on the secondary market like any other NFT, the difference is that most of the royalty fees applied to sales will accumulate the target asset to grow the wrapping contract. Ultimately, with greater NFT trade volume, each wrapped NFTs share of the underlying asset increases at redemption.
Peak Finance will unlock functionality to not only existing and emerging NFTs on Andromeda, but will enable PROJECTS to implement the following:
– Wrapped NFT staking contracts to BOOST yield upon specified collateral and time-lock conditions being met.
– To release NFTs with an implicit price floor based on the underlying collateral assets.
– To increase token retention and offer a new vehicle for trading assets.
– SOUL-BOUND TOKENS. Non-transferable NFTs verified through a decentralized KYC to ensure evenly weighted say in DAO activities. No longer will the whales with the biggest token bags determine the fate of a protocol.
At the highest level, this is what Peak and NFTA seek to achieve alongside Envelop. Three years of hard work on Envelop protocol has presented a unique opportunity for all of us to explore nascent use cases for NFTs that are yet to be imagined.
“Looking at the NFT markets significant decline in volume, we can begin to anticipate that the era of speculation is coming to an end. Businesses and individuals are quickly coming around to the fact that, like tokens, non-speculative usage is what delivers true value to investors. We are excited to move forward with Envelop in raising the bar of what we believe to be possible with NFTs”
– Tristan Hazelwood, Co-Founder of Peak and NFTA.
“Now we see much bigger interest from the market for programmable digital assets. Especially pleasant that the team working in Layer-2 solutions find it important to deploy Envelop solutions to give new features a scaled level of Ethereum. I am sure joint solution with Peak and NFTA will give great boost to adoption on financial NFTs on all layers.”
– Alex Shedogubov, CEO and Co-Founder of Envelop (NIFTSY).
Given that we are only beginning to see the tip of the iceberg when it comes to NFT use cases, Envelop has laid the groundwork for Peak and NFTA to explore uncharted territory.
For the latest updates and more information, visit:
– Peak Finance Linktree
– NFTA Website
– Envelop Linktree
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