Billions of asset-backed NFTs are coming to enable the next killer Web3 use case

New York, New York — Oct. 14 2022 — Vera Labs, the fintech company behind the decentralized finance (DeFi) protocol for non-fungible tokens (NFTs) demonstrated the world’s first non-custodial rental of cartoon “Bored Ape Yacht” for one million dollars. Club” NFT last year, has signed an exclusive agreement with Lux Partners to bring precious metals and resources worth billions of dollars on the chain, starting with uranium-backed NFTs.

Vera will become the first decentralized protocol to allow the sale of real-world tokenized assets like Lux’s uranium-backed NFTs, unlocking billions of dollars in new liquidity and utility never before seen in Web3. The NFTs will be available for sale starting October 15th at and customers who purchase them with $VERA coins will receive a 10% discount.

Asset-backed NFTs are an example of a growing trend in the NFT space. Industry experts predict real-value NFTs and utilities are here to stay and will drive mass adoption of Web3 to millions of users. Meanwhile, so-called cartoon NFTs have lost over 97% of trading volume and value since the start of 2022.

“Asset-backed stablecoins like Tether or USDC accelerated the mass adoption of decentralized finance, the first killer use case of Ethereum Virtual Machine-compatible applications,” explained Denis Lam, CEO of Vera Labs. “Similarly, asset-backed financial NFTs will be the driver of the next NFT killer use case, and we are excited to partner with Lux to pioneer this vision.”

“Imagine someone who believes in a real value like gold and wants the asset part of their retirement plan,” explains Michael Arbach, CTO of Vera Labs. “Using Vera’s non-custodial, self-executing smart finance contracts that support physical asset redemption, the investor can buy a $1 million gold NFT today and pay for it over 20 years without going through an escrow or intermediary, saving thousands of dollars in brokerage fees. This unlocks billions of dollars of new business opportunities that are not possible today.”

Zach Kelling, CEO of Lux Partners, stated: “We are excited to form a strategic alliance with Vera Labs to enable decentralized financial applications powered by Lux asset-backed NFTs. Real assets must do more than buy, sell or hold , and Vera is the holy grail that enables non-custodial and compliant business transactions for our NFTs, with minimal legal overhead and a fixed or negligible transaction fee whether the asset is worth $100 or $1 billion. .”

Lux Uranium provides a convenient, secure and user-friendly investment option for modern investors interested in holding uranium, backed by verified reserves of an increasingly valuable resource. With a global market exceeding $10 billion, uranium is the most important natural resource for nuclear power generation and is only found in abundance in certain areas of the world. A uranium fuel pellet creates as much energy as one tonne of coal, 149 liters of oil or 17,000 cubic feet of natural gas.

Recently, Lux signed a five-year exclusive supply agreement with Madison Metals that will see the supply of up to 20 million pounds of U3O8 from their worldwide uranium projects.

To learn more about Lux Uranium, explore: https://lux.market/uranium

To learn more about Vera Labs, explore: https://veralabs.com

About Vera Labs

Vera Labs is a fintech company in the US behind the development of Vera, a DeFi protocol that enables rent, lend and buy now, pay later for NFTs on any blockchain. Vera’s vision is to increase the gross domestic product of Web3 and empower communities by allowing anyone to easily share and monetize their NFTs. If Bitcoin (BTC) is the new digital currency for electronic cash payments that replaces the need for banks, then Vera coin is the new digital currency for NFT transactions that replaces the need for escrow or intermediaries. Vera Labs enables brands, creators, metaverses and institutions to implement utility and DeFi use cases with NFTs such as membership and loyalty programs in a retail-friendly and compliant way. Vera executives have an extensive track record of developing blockchain technologies for a wide range of clients such as NASA, Northern Trust, Daikin, Barett Jackson and Hollywood Oscar-winning actors. Additional information is available at VeraLabs.com.

About Lux Partners

Lux is a fintech company based in the Isle of Man and works with a regulated and licensed money transmitter business. Lux enables institutions to take advantage of blockchain technology use cases in a tax-advantaged and regulated environment, with proper compliance, Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. Lux executives have an extensive track record of managing transactions and investments across a wide range of industries. Both institutions and governments can send and receive tokenized assets, with proper compliance, KYC and AML procedures. Lux processes transactions in crypto and fiat, given its ability to process SWIFT and US Federal Reserve wires natively from the blockchain, while providing the highest levels of security and privacy thanks to the Lux Bridge, which uses zero-knowledge proof to ensure assets and enable private transactions over the Lux network. Lux is uniquely positioned to launch a number of highly profitable and risk-adjusted verticals that are extremely scalable within significant and fast-growing markets. These verticals include secure transaction processing, asset management, DeFi ecosystems and tokenized investments in natural resources and emerging markets. Further information can be found at Lux/om.

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Shaun Saunders

Denis Lamb