Vera Finance AMA Recap

11 Oct 202120:58

AMA

Vera Finance AMA Recap

Myko (CryptoDiffer)

Hello, everyone!😁

We are glad to meet here:

Jason Lee, Marketing Director @elevacy

Xndr, founder and chief art director in Xoids project, @xndr_13

Xela - founder and chief strategy officer in Xoids
@eyeamxela

Jason Lee

Hi Myko
glad to be here

xela

aloha everyone

Myko (CryptoDiffer)

Welcome Jason, Xela and Xndr, thank you for taking your time today!

xndr

hello hello!

Myko (CryptoDiffer)

Great! Everyone's here
We've prepared some questions to start with
Let's begin with the introduction)
Q1: Can you introduce yourself to our community?

Jason Lee

Sure thing
I'm the Marketing Director for Vera, been in the internet marketing and business consulting world for about 20 years.
Most of my corporate experience is in organizational effectiveness, cultural excellence modeling, causal analysis, and procedure development.
After leaving that world behind I launched a media company and did that ever sense, mostly in the world of SEO, PPC, web design, copywriting, etc.
That's been the last 8 years of my life actually. I came aboard with Vera just a month ago. The CEO and I have worked together for quite a while in this space
🙂
done

Myko (CryptoDiffer)

Great, thanks Jason)

xela

my name is xela
eye create art in the dream worlds and manifest that into the physical with our team of about 30 new earth citizens. here to merge the physical digital and virtual realms into a open metaverse xr experience of real interoperability between realms & manifest a better future for our planet earth and our hueman race 🪶

eye live in kauai full time. with my 2 partners
Daniel - CEO
XNDR - Creative director

we run about 7 different companies together that all merge into one eco system

xndr

whats up everybody

im xndr

my background is all within the creative realms, story telling, film making, design, etc

i love making content that goes viral and getting the internet talking about cool projects 🙂

i joined forces w daniel and xela to build a blockcain eco system

stoked to be here

Myko (CryptoDiffer)

Thanks all for your background!
Seems like you came from the different areas)
That's cool
Let's move on to the project
Q2: Can you introduce Vera Finance to us?

Jason Lee

Sure.
Let me start with the problem we're solving
The NFT industry does not currently have any DeFi financial products or services.
Vera is the first project that we know that is providing open-source, secure, trustworthy and reliable essential financial services for NFT apps or games equally available to all developers.
The initial services we are currently building are:
Finance, Rent, Lend, and Verify
We believe our services will give NFTs so much more utility and creative business use cases beyond just buying and selling - and this will accelerate massive adoption of NFTs to become the next trillion dollar industry.
It's exciting stuff
I can elaborate on the services if you'd like

Myko (CryptoDiffer)

sure, that'd be great

Jason Lee

cool
Basically we're building decentralized financial products that are powered by smart contracts
This will allow strangers to perform financial transactions with no middleman
Currently we're doing this on Polkadot and Ethereum blockchains, and our vision is to have our platform able to work with NFTs from any blockchain including Solana, Polygon, and BSC.
Right now the four products as i mentioned above: finance rent lend verify
Finance: right now anyone buying NFTs will pay 100% of sale cost
there's no way to do anything else even though in the real world there's a lot of different ways to transact right? pay over time, pay later, etc.
This product will allow people to afford NFTs just like how Amazon lets you pay with a credit card or make multiple pyaments.
Rent: NFTs now are bought and sold but can't be rented. we're going to enable this with Vera.
Sellers can let their customers Rent to Buy - meaning let the customer own the NFT if they pay enough rent.
NFT collectors can also stake their NFTs on Vera Network and earn money or rewards.
We're also building something called NFT subscription pools in this product, where a pool of renters can effectively timeshare an NFT that might be too expensive otherwise
Lend: This was our first product built with support from Polkadot Web3 Foundation's grant which allows NFT owners to use NFT as collateral and obtain a loan.
Borrowers that lend money to these NFT owners can earn interest over time
and finally Verify: the NFT world today is a wild wild west that lacks both user-friendly buyer and seller protection.
Verify solves these problems to make sure NFT buyers clearly know the NFT they buy is authentic and certified by a creator or brand.
Our smart contracts can also be programmed to only work with certified authentic NFTs to prevent misuse or fraud.
In summary, Vera provides NFT apps, games and metaverses amazing DeFi superpowers that do not exist today, allowing them to generate new revenue streams, reimagine user experiences, and empower communities.
done

Myko (CryptoDiffer)

Thanks for the detailed explanation)
next question
Q3: Let`s now talk about the milestones Vera have achieved so far and about your upcoming plans?

Jason Lee

Where to start....
We made cover of Yahoo Finance: https://finance.yahoo.com/news/nft-defi-platform-vera-raises-154500703.html
We have completed a PoC web app demo in Q2 with Web 3 Foundation
We released PoC code under open source license, and MVP development is already underway with several real world customers in the gaming and e-commerce space
We are currently working on bridges with Ethereum and Solana blockchains so any NFT from those chains will also be compatible with Vera services
We have plans to also support Polygon and BSC NFTs.
We will continue the platform development and release more documentation for 3rd party and open source developers to build on top of our protocol
We are very excited for completion of MVP by end of year 2021 with our current customers because we have to potential to have real user adoption of our products by millions of users and NFT transaction volume when our product is live
Additionally, we are launching on Polkastarter 9/21 🙂
With plans to launch on Polystarter afterwards
We also have a number of contests and giveaways to help support our launch, i can drop links at the end of the chat
Bottom line is, we believe NFTs will be the future for a Web 3 global economy and the next trillion dollar industry that truly bridges the real-world to the digital.
https://twitter.com/veradefi/status/1435459338001215489
done

Myko (CryptoDiffer)

Superb!
Our last question before the community part
Q4: I understand XOIDs is working with Vera. Can they tell us briefly what their project is about and how Vera is helping their ecosystem?

Jason Lee

Yes,
they are awesome

Myko (CryptoDiffer)

That's to briefly shift the attention to Xoids)

Jason Lee

i wanted them to be part of this AMA so they could talk about how we're working together

xela

XOids is a next level avatar project with infinite utility

Jason Lee

and to let your readers know not only what their platform is about but how we're collaborating.
they have an awesome tech and we wouldn't be where we are without partners like them
@eyeamxela i'll hand it over

xela

Vera is helping us develop the custom algorithms to bring this into creation this TEK will then be scalable for many other projects we have in the works.
in essence when we see a need for utility in the space we create a solution and then scale that solution to fit the use cases of multiple projects
outside of just the xoids project we have a whole eco system which vera is helping with all the parts go together to create a full physical / digital / virtual experience
Totem - Blockchain solutions
Xela - XR Metaverse
Obtainable - NFT Platform
Xoids - DIgital avatar identity system

These projects merge together to create a one of a kind user experience, providing real world use cases for solutions that need to be added to the ever expanding metaverse.

Custom smart contracts / for infinite use cases

Community based eco system, focused on bringing true value to the blockchain space

Genetic replication algorithms for nft projects

Connecting physical items to the blockchain and merging them into the metaverse.

i believe we’re entering a critical epoch of human history where the very fabric of our imaginations, ideas and identity will take place within a new digital reality. we are watching the logic of the internet change as we speak with blockchain and specifically with NFTs

the vera team has allowed us to take our imaginations and bring them into reality

xoids are coming sooooon and we’re stoked to share our game plan for how people can enter this amazing metaversal experience using them as keyssss
i believe we’re entering a critical epoch of human history where the very fabric of our imaginations, ideas and identity will take place within a new digital reality. we are watching the logic of the internet change as we speak with blockchain and specifically with NFTs

the vera team has allowed us to take our imaginations and bring them into reality

xoids are coming sooooon and we’re stoked to share our game plan for how people can enter this amazing metaversal experience using them as keyssss

Jason Lee

agreed, where can people learn more about what you guys are up to?

xela

right now the best place to check us out is obtainable.io
all of our other sites will be launching within the next 30 days

Jason Lee

Nice. i love that you mentioned metaverses. can you elaborate on that.

xela

we see a world where the metaverse is integrated into our everyday physical life. XR > VR
how can we merge these realms to create change on the planet
proper distribution of resources
connecting the physical / digital / virtual in a way that makes sense and people can use everyday

Jason Lee

agreed. one of the things we're excited to help with on this project is the metaverse. we're working right now on metaverse mortgages for example where NFT holders will be able to transact real estate in ANY world/metaverse just like real estate here without the agent/middle man
we feel that blockchain tek has the opportunity to change the world as we know it and we are excited to be a part of the ever expanding eco system. creating solutions that not only bring mass opulence but also healing to our home planet

Jason Lee

well said

xela

we arent the biggest tech nerds we are dreamers that see into the future and wish to shape this future into a more innovate peaceful ecosystem that is in resonance with the highest good of all. and this is why we partner with teams like vera who can help us build what we wish to create

Jason Lee

@xndr_13 @eyeamxela is there anything else your team would like to add prior to the next segment? i just want to make a public statement it's been an honor to work with you all. amazing project.

Jason Lee

yes ill finish here with a final blurb:

we believe blockchain and community are directly intertwined

xoids will be our first fully digital community that allows everyone to get their own avatar in the xela metaverse.

we are starting with lofi avatars, and promising a future of hi fi avatars and a world for them to live and play in

XOiDs are 11,111 unique avatar NFTs with proof of ownership stored on the ethereum blockchain. no two are exactly alike.

the software program (in partnership with vera) behind generating XOiDs is random, yet holds complexity behind its process. XOiDs hold a fantastical aura, with each one containing a different combination of accessories and facial features.

some don’t resemble their humanoid counterparts, instead appearing like avatars or anime creatures.

we are excited to share the beautiful lore behind the 7 xoid tribes that are about to populate the metaverse

Cryptodiffer Community

Can you give an overview of your Tokenomics, and the UTILITY of Token?

Jason Lee

Great question, there are 1B Vera in total supply. The Vera token simply put will be used as the medium of exchange inside all of the platforms that use our technology to facilitate NFT transactions on the blockchain. The more widely adopted it becomes the more its value it will increase we believe (supply and demand). Being that there is no other technology out there right now capable of doing what we do, we project good things for our early adopters and investors 🙂

Cryptodiffer Community

What are the major updates to be announced in 2021? Please shares some details on your roadmap?

xela

XOiD roadmap

Cryptodiffer Community

Q. Currently from where i can buy ? Is it possible that I can get only by holding it????

Jason Lee

Sorry, we are set to launch on Polkastarter 9/21/21. our fundraising has been completed. Here are a few links to plug into announcements: website: https://vera.financial
Chat with us on Telegram — https://t.me/veranetwork
Find us on Twitter — https://twitter.com/veradefi
Subscribe to our Medium — https://blog.vera.financial
Join to our Discord community— https://discord.gg/P3zHpBmbaR

Cryptodiffer Community

How will your project survive in the long run and what are your business revenue module? Do you have any partnership ventures or strategic investors on your project to raise funds?

Jason Lee

Our primary market right now is the gaming sector, specifically projects that are building metaverse. It's a massive industry dwarfing hollywood and music combined. with no slowdown in growth in site. Our long run will really be determined in my opinion by the leadership and teams we grow internally at Vera Labs. Every solid long lasting company has a sound Vision and Leadership Team in common for its longevity..read the book Built to Last it's a great study on this. Vera Labs will continue to build out this technology for clients and as we grown our team we will branch out with more focus on other industries we can serve as they come along.

Cryptodiffer Community

you announced an IDO to be held on Polkastarter on September 21, what advantages does the Polkastarter platform offer you? And why is this IDO important for Vera and for the community? What do you hope to get out of this IDO?

Jason Lee

Polkastarter has a number of advantages for initial launch: cross chain swaps, fixed and dynamic swaps, anti scamming (huge problem in industry), full KYC integration, governance, etc.
ultimately, the launch will help fund our growth efforts going into 2022. we're done fundraising now, so really what we're looking for are strategic partners that can help get the word out 🙂

Cryptodiffer Community

Is it possible for Vera Network to generate passive income even if there is no user NFT renting or betting on the use of NFT? What should he do to earn passive income?

Jason Lee

Yes we have a staking program in the works. no details yet. We're looking into yield farming but not certain if that will be something we pursue.
was that 5?
great questions

Myko (CryptoDiffer)

i think so

Jason Lee

alicia, angel, hampi, miska, hang
yup

Myko (CryptoDiffer)

Okie)
Hey, Jason, can you please provide all the links the community needs to find our more about Vera?

Jason Lee

Sure
First i'll leave the link for our Gleam contests: https://bit.ly/3jY5agg
https://bit.ly/3ho2RBw
Project Description: Vera is the most powerful open financial platform for non-fungible token (NFT) assets. Vera offers decentralized financing, leasing, lending, and other essential financial services for any NFT marketplace, game, or application. Founded in 2021 and backed by notable investors in the decentralized fintech space such as Animoca Brands (leader in blockchain gaming and NFTs; key investor in Axie Infinity, Open Sea, Dapper Labs, CryptoKitties, and much more) and the Web3 Foundation, Vera’s mission is simple: To build open, secure, and powerful NFT financial products that are equally available to everyone everywhere.

Target Market: NFT marketplaces, NFT games and metaverses

Key Backers: Web3 Foundation, Animoca Brands, GBV, Krypital, Shima Capital, Momentum 6, OKEX Blockdream Fund, SL2 Capital, Morningstar Ventures, Moonwhale, Gate.io, Spark Digital Capital, Mozaik Capital, Sentor Investments, Highstreet

More Info:
One-Pager: https://vera.financial/one-pager
Twitter - https://twitter.com/veradefi
Discord – https://vera.financial/discord
Telegram - https://t.me/veranetwork
Blog - https://blog.vera.financial

Myko (CryptoDiffer)

Thanks!

Jason Lee

You got it! 🙂

Myko (CryptoDiffer)

Thank you for the ama)

Jason Lee

Thanks for having me on and thank you to the XOIDs team for joining us 🙂

Myko (CryptoDiffer)

Chat is unmuted)

xndr

blessings! ty!

xela

blessss