Envelop

Envelop

Inspiration We were inspired by bear-market of 2018-2019 and saw up-comming hype of NFTs. As we like NFT phenomenon and see big potential their especial for financial use cases, we decide to create hedging tools to minimize risks of holder/trader, project and whole NFT-market.

What it does ENVELOP (NIFTSY) (https://envelop.is) is a flexible cross-chain tool set able to give any NFT new functionality (economic set-up, on-chain royalties, rental mechanism, time/value/event-locks), protection of devaluation and anti-fraud system. Now easily implemented in GameFi, Marketplaces, Art, Metaverses and non-pledge NFT-rentals.

How we built it ENVELOP DAO consists of three main parts, binded together by NIFTSY token: 1) Protocol to add the digital assets inside NFTs and set on-chain royalties; 2) Oracle to score the collateral and assess the quality of assets inside NFTs; 3) Index to hedge the position to the whole NFT market — becomes one of the first decentralised and collateralised simultaneously market indices for NFT and related assets (synthetic, among others).

Challenges we ran into Was hard to explain to the wide puliс what benefits ENVELOP gives. Think this is due to complexity of idea.

Accomplishments that we're proud of Were in top-10 projects in Binance Hackathon this spring (under the name of NIFTSY). Granted by Polygon team. First implementation made into marketplace (NFT Stars https://nftstars.app/en/), in progress implementation into 3 games projects and 30 projects in pipeline. Were selected to pitch on Game On Summit. Closed our fundraiser very successful.

What we learned Listen to the customer and correct your ideas. Especially it was helpful in GameFi, cause sometimes we imagined more complex solutions than needed.

What's next for ENVELOP DAO Updating our front-end to the final versions and be updated with our smarts.