Okra Finance is excited to announce our official partnership with Vera Labs.
The partnership showcases Okra’s on-chain asset management platform and composability of its unique technology. Our proprietary adaptors allow institutions to access a wide range of DeFi strategies in a cost and operational efficient manner. Institutions can layer multiple strategies, yields and risk management across different asset classes (such as Fungible Crypto, NFT and Security Tokens) within a single smart contract transaction. Our mission is to spearhead institutional access to crypto as a long-term asset class offering unique risk-reward.
Despite recent success, NFT technology is still in the early stage of growth. With buy/sell marketplaces for digital art and in-game assets are early use cases, it is projected that several other sectors such as music, entertainment, consumer goods, and real estate will witness much broader adoption of NFTs in the near future, expanding the potential NFT market size to be in the trillions of dollars.
Understanding the market demand, Vera Labs is building an open and decentralized financial platform for any NFT asset with advanced seller and custodian-protection features. Vera Labs users can rent, lend, and mortgage non-fungible tokens (NFT).
The Okra-Vera partnership will allow institutions to access NFT assets and financial products as an instrumental part of the DeFi portfolio created utilizing Okra’s infrastructure.
Cage Chen, CEO and Co-Founder of Okra Finance, commented:
“NFT is at the forefront of the massive growth in web3, Okra as an on-chain asset management infrastructure provider is thrilled to partner with Vera and to enable our institutions participants access to NFT strategies as part of their portfolio. This is a great example of our engineering capability and flexibility”
Denis Lam, Founder and CEO of Vera Labs, commented:
“We are excited to partner with Okra, as it will be the first decentralized mortgage product for NFTs powered by Vera. Using Okra’s capabilities investors would receive exposure to NFTs by providing funds for NFR buyers & sellers.”
Vera is building Stripe for NFTs to enable the best decentralized way to rent and mortgage non-fungible tokens (NFT). If Bitcoin is the new digital currency for electronic cash payments, then Vera is the new digital currency for electronic NFT payments.
Founded in 2021 and backed by notable investors in the decentralized fintech space such as Animoca Brands 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. Vera supports NFTs from major blockchains such as Ethereum, Polygon, BSC, Polkadot, and Solana. Using Vera, applications such as metaverses, games, and marketplaces can generate new revenue streams, reimagine user experiences, and empower their communities.
About Okra Finance
Okra finance is the first permissioned DeFi index creation and execution platform powered by smart contracts. Our mission is to create an on-chain asset management ecosystem so institutional participants may access a wide range of DeFi strategies to build customized portfolios. Okra’s unique “permissioned” framework provides the necessary infrastructure for institutions’ long-term participation as the DeFi landscape continues to evolve.