Peak Finance, NFTA and Envelop as the keys to next-generation NFT functionality on Layer-2 Metis Andromeda

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 the Envelop (NIFTSY) protocol to deliver next-generation wrapping technology on Metis Andromeda and beyond

AUSTRALIA , Nov. 2, 2022 /EINPresswire.com/ — Peak Finance and NFTA have an affiliate partnership with the Envelop (NIFTSY) protocol to deliver next-generation wrapper technology to unlock practical use cases for NFTs on Metis Andromeda Layer-2 and beyond.

Envelop is a public utility that has been in development for 3 years, their wrapper protocol has been battle tested to unlock reverse compatible utility for NFTs. The broader NFT and cryptocurrency ecosystem is only now beginning to realize that the next phase of NFTs is moving beyond speculation and toward utility.

Peak Finance will be an NFT Wrapping hub on Metis Andromeda, supported by the team and DAO at Envelop. The recently released Peaking Duck NFTs are the first step in taking this “grave fork” to places never explored.

By wrapping Peaking Duck NFTs, DeFi users will be able to apply security to their NFT that improves earning potential during liquidity mining events. Without upfront fees, wrapped NFTs can be traded on the secondary market like any other NFT, the difference being that most of the royalty fees applied to sales will accumulate the target asset to extend the wrapping contract. Ultimately, with greater NFT trading volume, each wrapped NFT increases its share of the underlying asset upon redemption.

Peak Finance will unlock functionality to not only existing and new NFTs on Andromeda, but will enable PROJECTS to implement the following:
– Wrapped NFT stake contracts to increase returns when specified security and time lock conditions are met.
– To release NFTs with an implicit price floor based on the underlying securities.
– To increase token custody and provide a new vehicle for asset trading.
– SELF-BOUND TOKENS. Non-transferable NFTs verified through a decentralized KYC to ensure equal weighting in DAO activities. No longer will the whales with the biggest token bags decide the fate of a protocol.

At the highest level, this is what Peak and NFTA seek to achieve together with Envelop. Three years of hard work on the Envelop protocol has provided a unique opportunity for all of us to explore nascent use cases for NFTs not yet imagined.

“Looking at the NFT markets’ significant decline in volume, we can begin to foresee the end of the speculation era. Companies and individuals are quickly coming to terms with the fact that, like tokens, non-speculative uses are what provide real value to investors. We are excited to move forward with Envelop to raise the bar for what we believe is possible with NFTs”
– Tristan Hazelwood, co-founder of Peak and NFTA.

“Now we see a lot more interest from the market for programmable digital assets. It is especially nice that the team working on Layer-2 solutions finds it important to deploy Envelop solutions to give new functions a scaled level of Ethereum. I am sure that a joint solution with Peak and NFTA will give a big boost to the use of financial NFTs at all levels.”
– 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’s website
– Enclose Linktree

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