Revest Finance announced the Financial NFT: a programmable wrapper for users’ assets.
FNFT is a new method of locking and unlocking values that gives users complete control over their assets – no code required.
Everyone has heard of the NFT by now – the non-fungible token. NFTs became famous in response to digital scarcity, giving digital art and artists a way to assign ownership. While many digital artists have seen a huge boom, the saturated JPEG market is starting to feel superficial.
Cryptocurrency enthusiasts seek creative disruption, and like ivy looking for a wall, NFTs feel like innovation in search of a solution. At FNFTs, this leading wave of innovation meets the solid framework conditions of the financial markets. Any financial market. From humble homeland to international bond markets, Revest brings blockchain to fruition.
The Revest protocol uses a special form of the NFT – the semi-fungible token – to create a programmable wrapper that can hold and give up assets when certain conditions are met. This seemingly simple premise is the basis for a limitless range of financial opportunities, many of which may not have been thought of before.
The reason for this is that Revest’s FNFT is stupid in its content. The FNFT is a wrapper – it doesn’t matter what it’s wrapping. Would you like to securely pack an ETH for your daughter for her 18th birthday and confirm her identity with an oracle and a digital signature? FNFTs can.
Do you want to make regular payments to a marketing company that are commensurate with the value of the product they are marketing? FNFTs can do that too. Do you want to create a multimillion dollar covered call option? You guessed it – FNFTs solved that. Just as the art NFT was a blank canvas for artists, FNFTs give financial innovators carte blanche for their creation.
For too long, the financial markets have had a monopoly on financial innovations. Revest offers users the opportunity to go from being a passive consumer to an active innovator. When blockchain is about ownership, FNFTs are about adding value. Users wrap up their assets through an intuitive user interface and decide which unlock features they need. These characteristics can specify time, value, or any criteria.
Users can set multiple unlocks and allow asset deposits like a savings account. The time criteria can be expandable; the value criteria can relate to a different asset or a different combination; the arbitrary criteria can refer to multiple parties or even to overly intelligent contracts, which gives the FNFT limitless possibilities for customization.
The blocked asset is also not restricted, so that fungible cryptocurrency tokens, NFTs or even other FNFTs can be packaged. In short, Revest has just replaced your industry with 1000 lines of Solidity code.
A flagship of the FNFT is that ownership can be transferred without directly affecting the value of any contained asset, as compared to buying and selling the unpackaged asset in the open market.
The Revest team initially sees this in the innovation-hungry cryptocurrency start-ups, where problems such as token release schedules and treasury management were particular pain points.
With FNFTs, token release schedules can be managed according to time criteria or linked to the token value in order to alleviate the strong selling pressure. Crucial, however, is that locked tokens can be traded through trading the FNFT itself, which allows early investors in startups to hold liquid positions without affecting the communities they invest with.
This is just the beginning. When a new technology is born, innovation blooms in all directions. The first big hit for the NFT was art, but now NFTs have outgrown their artistic beginnings. The NFT has come of age.
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