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Oct 6th, 2020 : British Virgin Islands: DareNFT, a first-of-its-kind project with a universal NFT2.0 protocol for digital assets recently closed its strategic and private sale round with a staggering $2.4 million. The round was led by several investors around the world with numerous blockchain and crypto projects to their names.
DareNFT’s investors and partners include Kyber Network, AU21 Capital, Basics Capital, Magnus Capital, Momentum 6, X21 Digital and a host of others. With the fresh capital, DareNFT aims to begin its journey toward changing the way NFTs- currently the rave of the moment- are being viewed.
How DareNFT is Creating A Benefit Relationship Among Digital Assets
“The adoption of NFTs in the mainstream depends on its ability to reflect the ‘benefit’ relationship between digital assets.” – Duke Nguyen, CEO of DareNFT
Non Fungible tokens could derive from an existing piece of work or a game character that is built from existing characters. As interesting as this sounds, keeping track of revenues generated from derived items may be an uphill task given that authors of the original or existing content have to earn royalties. Platforms operating on the NFT 1.0 protocol are unable to pivot such innovation because they are not built for that purpose.
This is DareNFT’s value proposition. DareNFT is establishing the world’s first blockchain-based derivative content marketplace that will foster a symbiotic relationship among digital assets. Employing an NFT 2.0 protocol, it will be easier to keep track of derivative items and reward the original authors by remitting royalties to them. This way, another relationship is created between the original creators and derivative owners.
The DareNFT platform will also feature a rental game assets marketplace. DareNFT is pivoting the world’s first NFT game commerce or GameFi platform known as DarePlay as its first product. DarePlay would allow users to rent or lease unused game assets so they can earn from them via the rent-to-earn model that the platform is proposing. NFT liquidity is sometimes a big challenge that digital assets become liabilities to their owners.
However, with the rent-to-earn model, users can lease their assets to other users rather than waiting for a one-time purchase. Therefore, the risks of holding a non-fungible token are almost non-existent.
DarePlay will have an IGO Launchpad where traditional games can be onboarded to blockchain games with millions of users. Interestingly, users can also get to invest in early game opportunities.
DareNFT is the universal NFT 2.0 protocol for Digital Assets. The mainstream adoption of NFT depends on its ability to wholly reflect the benefits of digital assets. DareNFT has developed a range of products that solve the current problems of NFT 1.0, which are: unrecognized benefits between NFTs, unrecognized relationship between NFT owners, and hidden risks of NFT Ownership.