New York, NY, Sept 14, 2021 - (ACN Newswire) - Revest Finance has announced the launch of the Financial NFT. The Revest Protocol uses a special form of the Non-Fungible Token to create a programmable vault capable of locking any ERC-20 token until a particular set of conditions are met. This seemingly simple utility is the basis for a large number of financial possibilities including time and incentive based vesting structures. In addition to locking tokens, the FNFT Smart Vault can be fractionalized, bought, and sold on NFT marketplaces, allowing for liquidity of locked assets.
Launching September 24th, 2021, the FNFT is a new way of locking and releasing value that gives users complete control over their assets – no code required. Most have now heard of the NFT – the non-fungible token. NFTs shot to fame as the answer to digital scarcity, giving digital art and artists a means by which to attribute ownership. While many digital artists have received a huge boost, the jpeg market is merely one small use case of NFTs. FNFTs are where NFT technology meets the solid framework of the financial markets. From the humble home to international bond markets, Revest brings the NFT into the financial world.
The reason for this is the FNFT is a – it is agnostic to what it locks. Want to securely lock one Wrapped ETH as an 18th birthday present for your daughter, using an oracle and digital signature to confirm her identity? FNFTs can do that. Want to make incentive structures to a marketing firm according to the value of the product they market? FNFTs can do that too. Want to create a multimillion dollar covered call option? You guessed it – FNFTs have that solved. Just as the art NFT has been a blank canvas for artists, FNFTs give financial innovators carte-blanche for creation.
For too long the financial markets have held a monopoly on financial innovation. Revest is building tools to move the financial system to a secure and decentralized state. Users wrap their assets using an intuitive UI and decide what unlocking features they require. These features can stipulate time, value, or arbitrary criteria. Users can set multiple unlocks and allow for asset deposits as with a savings account. The time criteria can be extended; the value criteria can relate to another asset or combination of assets; the arbitrary criteria can refer to multiple parties or even to smart contracts, all giving the FNFT limitless capabilities when it comes to customization. The asset locked is not restricted either, allowing fungible cryptocurrency tokens, NFTs or even other FNFTs to be wrapped.
A flagship claim of the FNFT is that ownership can be transferred without directly affecting the value of a contained asset, in comparison to when the raw asset is bought and sold, impacting the price. The Revest team see this initially being adopted by the innovation-hungry cryptocurrency start-ups, where problems such as token release schedules and treasury management have been particular pain points. With FNFTs, token release schedules may be managed by criteria of time or linked to token value to mitigate heavy sell pressure. Crucially though, locked tokens may be traded through the trading of the FNFT itself, allowing early investors in start-ups to maintain liquid positions without affecting the communities they invest with.
This is just the start. When a new technology is born, there is a bloom of innovation in every direction. The first big hit for the NFT has been art, but now NFTs have grown beyond their artistic beginnings. The NFT has grown up.
Meet the Revest Smart Vault, powered by the Financial NFT.
Company: Revest Finance
Contact: Rob Montgomery
SOURCE: Revest Finance
Topic: Press release summary
Source: Revest Finance
From the Asia Corporate News Network
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