Cyber Labs announces the launch of Credit Metaverse, the first loan service on the WAX blockchain that allows asset holders to use NFTs as collateral for loans of up to 30 days.
Dubai, United Arab Emirates, 16th Jun 2022, King NewsWire, Play-to-earn enthusiasts rejoice! NFTs can now be used as collateral for short-term loans on the WAX blockchain. Credit Metaverse by Cyber Labs is the first service of its kind, backed and designed by experienced crypto entrepreneurs who deeply understand the play-to-earn world.
“Credit Metaverse helps asset holders accelerate growth by unlocking value and liquidity via a fully structured and transparent mechanism ” says company founder Aleksi Vitakoski.
Credit Metaverse offers a unique financial service: a loan marketplace where players and collectors seeking loans can post vetted and approved NFT assets and their desired loan terms. Potential lenders then have the opportunity to accept the terms or make counteroffers.
“Credit Metaverse solves the liquidity problem for NFT play-to-earn players and others whose WAX tokens are locked into investments in NFTs. They can select their NFT collateral and receive a loan offer in as little as a few minutes.,” says co-founder Karlo Turk.
Credit Metaverse also invites users to enjoy preferential loan terms, share in loan service profits and explore additional investment opportunities via its CMW token and Credit Metaverse NFT collection.
The CMW token offers a unique tokenomics model. The tokens can be used to buy Premium Credit Metaverse NFTs, staked for mining, held as an investment, or exchanged for WAX.
The Credit Metaverse NFT collection combines NFTs in an unprecedented way with real-world business, utilising blockchain technology and smart contracts. Free and Main collection NFT holders receive discounted loan interest rates, a portion of collection sales and CMW tokens. Premium NFT owners receive a monthly share of loan revenue plus loan interest rate reductions of as much as 30 percent.
Credit Metaverse anticipates that NFT-collateralized loans services will be a highly active sector in the future. While the first phase of the project is exclusive to the WAX blockchain, the company foresees expansion to other blockchains over the coming quarters.
“The metaverse and especially the play-to-earn environment is constantly growing and passing new user base milestones,” says Vitakoski. “Credit Metaverse addresses this high demand by providing a new financial service in this environment. The play-to-earn life just got more valuable!”
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Media Contact: Credit Metaverse
Contact Person: Aleksi Vitakoski, Founder of the Credit Metaverse
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Address 1: One World Trade Center, Sheikh Zayed Road
Country: United Arab Emirates