Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » NFT Platform Vera Creates Record by Completing Non-Custodial Rental of $1.50mln Bored Apes Yacht Club NFT

NFT Platform Vera Creates Record by Completing Non-Custodial Rental of $1.50mln Bored Apes Yacht Club NFT

Kelly Cromley by Kelly Cromley
Dec 6, 2021
in Market News, News
Reading Time: 2 mins read
0
Vera Labs

Vera, a non-fungible token (NFT) decentralized finance (DeFi) platform, made history today by effectively renting a $1.5 million Bored Apes Yacht Club NFT, “#65,” between two unidentified individuals immediately following the release of its eagerly awaited Ethereum mainnet network in front of more than 3,000 participants at the Sagamore South Beach Hotel during Art Basel Miami.

The rental was decentralized and non-custodial, which implies that no escrow middleman or formal contract was necessary to take control of the NFT at any point. These financial transactions are enabled by Vera’s smart contracts, which are programs stored on a blockchain that execute when predefined requirements are satisfied. They are utilized to automate the implementation of a contract, ensuring that all partakers are instantaneously sure of the exact eventual result, without the need for a middleman or time delay.

Denis Lam, CEO and Founder of Vera Labs, the company responsible for establishing Vera, said, “This year’s great interest in NFTs demonstrates a community’s willingness to have full title to the goods they produce, acquire, or hold. However, actual ownership requires that these goods create regular revenue and have value beyond frivolous buying and selling. Vera is delighted to take on these difficulties and be a pioneer in financialzing the next trillion-dollar asset class to emerge with the emergence of Bitcoin and cryptocurrencies.”

Michael Arbach, Vera Labs’ Chief Technology Officer and Co-Founder, adding, “Demonstrating NFT lending and leasing on our Ethereum mainnet marks a watershed moment in the finance sector. A centralized escrow service provider’s overhead expenses are much greater and often grow in lockstep with the value of transacted assets. We are enabling such services to be conducted for a flat cost regardless of the value of the assets loaned and borrowed using Vera’s decentralized technology.

Additionally, when we implement our technology on other blockchain networks in the near future, such as Polygon, BSC, or Solana, we will further reduce the cost of service to an insignificant level. Additionally, our system is substantially more cost efficient and secure than typical centralized techniques.

Our debut is a minor step ahead in our technical roadmap, but a great leap forward in terms of expanding our platform’s applications/use cases beyond digital and cryptonative arts, including event passes, tickets, music, entertainment, gaming, and metaverses.”

Bob Murray, a Bored Ape Yacht Club member and owner of the rental B.A.Y.C. NFT, notes, “I’m pleased to contribute to Vera’s monumental historic achievement in the crypto and NFT sector. What made it extra special for me was that this historic moment occurred at one of the most epic parties during Art Basel Miami, in the presence of legendary artists such as Busta Rhymes, Murdabeatz, and N.O.R.E., and in front of thousands of attendees who are passionate about cryptocurrency, NFTs, and hip hop culture.”

Vera’s mainnet is a permissionless public network built on Ethereum that will soon be available on other major blockchains such as Polygon, Binance Smart Chain, and Solana, allowing anyone to begin developing decentralized financial applications for NFTs that require rental, lending, and mortgage transactions.

Established at the beginning of 2021 and supported by prominent decentralized fintech investors such as Animoca Brands, Sky Vision Capital, Infinity Venture Crypto, and the Web3 Foundation (grant), Vera’s objective is straightforward: to create open, safe, and powerful NFT financial products that are readily accessible to all, everywhere, and ruled by its native token $VERA.

Previous Post

Creator of Bored Ape Yacht Club to Release New NFTs at Art Basel

Next Post

Singapore Blockchain, Metaverse, DeFi Tools Provider Raises $1.20mln in Less than 3mins

Related Posts

fiserv

Fiserv Enters Stablecoin Arena with FIUSD Launch Plan

by Kelly Cromley
Jun 24, 2025
0

Global financial technology firm Fiserv has revealed plans to introduce its own stablecoin, FIUSD, along with a supporting digital asset...

Midnight Network

Midnight Network Rolls Out Glacier Drop Airdrop to Millions

by Kelly Cromley
Jun 24, 2025
0

Midnight Network, a privacy-oriented blockchain built on the Cardano infrastructure, has announced an expansive airdrop campaign known as the Glacier...

Kraken

Kraken and DeFi Development Bring Tokenized Stocks to Solana

by Kelly Cromley
Jun 24, 2025
0

In a strategic move to merge traditional equity markets with blockchain technology, DeFi Development (DFDV), a decentralized finance firm, has...

tether usdt blockchain

Tether Boosts Stablecoin Reserves with $2B USDT Mint on Tron

by Kelly Cromley
Jun 24, 2025
0

Tether has continued its rapid pace of stablecoin expansion by minting an additional $2 billion USDT on the Tron blockchain....

Nexus zkVM

Nexus Launches Final Testnet to Power Verifiable AI Future

by Kelly Cromley
Jun 24, 2025
0

Nexus, a forward-looking blockchain company focused on creating a Layer 1 network tailored for the artificial intelligence (AI) era, has...

delorean web3 marketplace vehicle registrations

DeLorean Unveils World’s First Blockchain Car Reservation System

by Kelly Cromley
Jun 24, 2025
0

The DeLorean Motor Company, famed for its iconic automobile, has launched what it claims to be the world’s first blockchain-powered...

Next Post
Singapore Blockchain, Metaverse, DeFi Tools Provider Raises $1.20mln in Less than 3mins

Singapore Blockchain, Metaverse, DeFi Tools Provider Raises $1.20mln in Less than 3mins

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

fiserv
Market News

Fiserv Enters Stablecoin Arena with FIUSD Launch Plan

by Kelly Cromley
Jun 24, 2025
Midnight Network
Market News

Midnight Network Rolls Out Glacier Drop Airdrop to Millions

by Kelly Cromley
Jun 24, 2025
Kraken
Market News

Kraken and DeFi Development Bring Tokenized Stocks to Solana

by Kelly Cromley
Jun 24, 2025
tether usdt blockchain
Market News

Tether Boosts Stablecoin Reserves with $2B USDT Mint on Tron

by Kelly Cromley
Jun 24, 2025
Nexus zkVM
Market News

Nexus Launches Final Testnet to Power Verifiable AI Future

by Kelly Cromley
Jun 24, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree