Vera

Vera is an open-source financial platform for NFTs that allows marketplace or Metaverse to create new revenue systems, empower communities, and improve user experience. The open platform provides many financial services like lending, leasing, financing for any NFT marketplace applications or games. Metaverse is a digital platform combined with virtual reality, online gaming, augmented reality, and cryptocurrencies to let users interact virtually.

According to its whitepaper, the Vera protocol allows people to interact with an API, user-interface client, or smart contracts on the platform's supported blockchain networks as smart contracts assure safety without intermediaries. The protocol is secured, audited, and open-source, which means users can develop applications or third-party services to connect with the protocol or improve the product. However, users have to pay transaction fees that depend on the transaction complexity and the blockchain network's status to interact with the protocol.

Vera is solving major problems, like the risk of purchasing NFTs through credit cards, limitations in trading NFTs to generate income, and a downtrend of mass adoption of NFTs. The platform builds the foundation by supporting NFTs minted on the blockchain and acts as a gateway to connect real-world assets with the digital world. Minting uses the proof-of-stake mechanism to generate new coins and adds the coins to circulation for trading.

VERA is the utility token of the Vera platform, which is also an ERC-20 and BEP-20 token. BEP-20 is a token standard that defines rules for tokens on Binance Smart Chain. Binance smart chain signifies a blockchain network developed for running smart contract-based applications. The token is used for the governance of the VERA network. The VERA holders can utilize the token for the following:

The company was launched in September 2021. The total supply of the Vera token was 1,000,000,000 VERA.