2021-9-14 21:02

Revest Finance has announced the Financial NFT: a programmable wrapper for users’ assets.

The FNFT is a new way of locking and releasing value that gives users complete control over their assets – no code required.

Everyone has now heard of the NFT – the non-fungible token. NFTs shot to fame as the answer to digital scarcity, giving digital art and artists a means by which to attribute ownership. While many digital artists have received a huge boost, the saturated jpeg market has begun to feel shallow.

Cryptocurrency enthusiasts seek creative disruption, and like ivy searching for a wall, NFTs have begun to feel like innovation in search of a solution. FNFTs are where that leading tendril of innovation meets the solid framework of the financial markets. Any financial market. From the humble home to international bond markets, Revest brings the blockchain to bear.

The Revest Protocol uses a special form of the NFT – the semi-fungible token – to create a programmable wrapper that can hold assets and relinquish them when a particular set of conditions are met. This seemingly simple premise is the basis for a limitless breadth of financial possibilities, many of which may not have been imagined yet.

The reason for this is that Revest’s FNFT is dumb to its contents. The FNFT is a wrapper – it is agnostic to what it wraps. Want to securely wrap one ETH as an 18th birthday present for your daughter, using an oracle and digital signature to confirm her identity? FNFTs can do that.

Want to make regular payments to a marketing firm according to the value of the product they market? FNFTs can do that too. Want to create a multimillion-dollar covered call option? You guessed it – FNFTs have that solved. Just as the art NFT has been a blank canvas for artists, FNFTs give financial innovators carte-blanche for creation.

For too long the financial markets have held a monopoly on financial innovation. Revest is giving users the chance to move from being passive consumers to active innovators. If blockchain is about ownership, FNFTs are about value creation. Users wrap their assets using an intuitive UI and decide what unlocking features they require. These features can stipulate the time, value, or arbitrary criteria.

Users can set multiple unlocks and allow for asset deposits as with a savings account. The time criteria can be extensible; the value criteria can relate to another asset or combination; the arbitrary criteria can refer to multiple parties or even too smart contracts, all giving the FNFT limitless capabilities when it comes to customization.

The asset locked is not restricted either, allowing fungible cryptocurrency tokens, NFTs or even other FNFTs to be wrapped. In short, Revest has just replaced your industry with 1000 lines of Solidity code.

A flagship claim of the FNFT is that ownership can be transferred without directly affecting the value of a contained asset, in comparison to when the unwrapped asset is bought and sold on the open market.

The Revest team sees this initially being adopted by the innovation-hungry cryptocurrency start-ups, where problems such as token release schedules and treasury management have been particular pain points.

With FNFTs, token release schedules may be managed by criteria of time or linked to token value to mitigate heavy sell pressure. Crucially though, locked tokens may be traded through the trading of the FNFT itself, allowing early investors in start-ups to maintain liquid positions without affecting the communities they invest with.

This is just the start. When a new technology is born, there is a bloom of innovation in every direction. The first big hit for the NFT has been art, but now NFTs have grown beyond their artistic beginnings. The NFT has grown up.

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The post Revest Finance Announces Financial NFT appeared first on BeInCrypto.

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