Strip Finance is Taking the Metaverse by StormNovember 10, 2021
Strip Finance, a Collateralised NFT & DeFi Liquidity Protocol is taking metaverse by storm. It is reshaping the NFT and the Metaverse industry, as well as building the future for a better Web 3.0.
This year, non-fungible tokens (NFTs) appear to have exploded from the ether. In 2020, the NFT market grew by 229%. However, the trajectory accelerated rapidly in 2021, when the overall market value of critical NFT projects increased by more than 1,785%.
Despite this growth, the majority of NFTs and NFT marketplaces face one of the most significant challenges of illiquidity. This is because NFTs often cater to a limited number of customers with specific interests, rather than an entire community of investors.
Strip Finance, a Collateralised NFT & DeFi Liquidity Protocol, addresses this issue by collateralizing NFTs and working in the lender’s and borrower’s best interests, therefore providing liquidity.
Strip Finance: Taking NFTs and Metaverse to the Next Level
Strip Finance with its decentralised peer-to-peer marketplace for NFT collateralisation is creating secondary markets for the NFT ecosystem. Strip Finance primarily allows users to lend their NFTs for stablecoins allowing them to attain liquidity without selling or leveraging the value of holdings to mint more NFTs. Furthermore, Strip Finance allows lenders to earn interest on the platform and also give a chance to acquire defaulted NFTs at discount prices.
With this strategy, the platform provides greater utility to NFTs. This would not only alleviate the liquidity problem (with NFTs) but would also provide the right value for NFTs. Moreover, NFTs are now being used in the Metaverse. Metaverse will employ NFTs to power the virtual economy and eventually will grow in size and sophistication while combining the real world with the Virtual world.
As a result, Strip Finance has a large addressable market that is involved with NFTs and the Metaverse. Using the platform’s NFT collateralization protocol, the Metaverse and NFTs will gain a new layer of utility.
A Platform Backed by Industry Leaders
Strip Finance’s vision of creating a collateralised NFT lending and borrowing platform on BSC has already put the project on the radar of investors and users in the market. The company has secured about $1.5million in funding from LD Capital, Old Fashion Research, Nothing Research, Tenzor capital, Exnetwork Capital, Valhalla capital, Block0, Shima Capital, Lancer Capital, MEXC Global Exchange, Kryptos Research, Bigcoin, J10M Capital and ZBS Capital amongst others.
Additionally, Strip Finance is funded by prominent individuals such as Ryan Fang and Marco Robustelli from Ankr, Aditya Nagarsheth from PVPL, Evan Luthra from ELGI, Palash Jain from Frontier and Tushar Aggarwal from Persistence.
Similarly, Strip Finance’s advisory members include Siddharth Menon, Co-Founder and COO of WazirX; Jaynti Kanani, Co-Founder and CEO of Polygon(Matic); Tamar Menteshvili, Growth and Ecosystem at Solana; and Yida Gao, General Partner at Shima Capital.
Moreover, the team behind Strip Finance consists of Yash Jejani, Yuvraj Chibber, and Varun Satyam, all of whom are seasoned cryptocurrency entrepreneurs with backgrounds in some of the most well-known technology companies, including Ankr, Bithumb, Bitfinex, Prometeus Labs, and Coldstack.
Strip Finance: The Potential
OpenSea, a prominent NFT marketplace, has a payment volume of more than $1 billion. According to DappRadar, a company that analyzes cross-platform sales, the trading volume of OpenSea was more than $3.4 billion in the first half of this year. These figures show how alternative platforms such as Strip Finance would benefit.
Strip Finance will have a greater potential, considering the trading volume with major marketplaces like OpenSea. It would also be easy to capture the market as already the primary NFT marketplaces have huge customer bases and trading volumes.
NFT Collateralisation: The Next Step Towards Web 3.0
NFTs are already popular as digital artworks, but new platforms are attempting to take them to the next level. One of them is Strip Finance. Strip Finance makes it easy for any NFT holders to borrow funds by keeping their NFTs as collateral. This could solve one of the major issues of liquidity with NFTs.
The sole purpose of NFT collateralisation is to get easy access to capital which can then be used for a variety of purposes like exploring further investment possibilities, personal expenditures, or market hedging.
The solution of NFT collateralisation will take the NFT and Metaverse industry by storm. This could ultimately pave the way for a better Web 3.0.
Source: Read Full Article