Terra Virtua partners with Polkalokr to Explore Escrow services with NFTs
We are thrilled to announce a strategic partnership with Polkalokr. Polkalokr is restoring trust & simplicity to complex token ecosystems by creating a multi-chain token escrow platform.
Polkalokr is restoring trust & simplicity to complex token ecosystems by creating a multi-chain token escrow platform that puts token distribution into the hands of network participants through governance-as-a-service. We offer two innovative solutions: Lokr, the most versatile, multi-chain token escrow in the world, and Swapr, a P2P cross-chain token swapping protocol.
This partnership signals Polkalokr expanding into the world of NFTs. Through this collaboration, Terra Virtua will provide the NFT’s for Polkalokr Staking rewards.
How Polkalokr fits into the NFT landscape
With the rising popularity of NFTs, we can now begin to see opportunities where museums, art galleries wish to display highly coveted, famous works of art on the blockchain. Due to the inherent nature of public ledger technology, we see opportunities to allow art collectors and owners to monetize their atwork, working with Polkalokr’s technology.
“We are working with Polkalokr to unlock the true value in loaned NFT’s. The collateralization of NFTs has become an emerging trend with galleries and institutions, where assets (NFTs) are locked and transferred for specific events such as exhibitions. This demand for NFTs opens the potential for owners of NFT’s to sub-lend or display their assets for specific cases while charging the borrowing party a premium or interest. The entire arena of lending for NFTs is growing, and Terra Virtua is thinking deeply about this space. We feel Polkalokr’s highly customizable, flexible escrow products will give us something innovative, allowing our users to monetize their pieces in new and unique ways.” — Jawad Ashraf, CTO & Co-founder of Terra Virtua
“NFT’s and Defi are new and exciting areas within the crypto sector where innovation is boundless. At the intersection where the two meet, Polkalokr has partnered with Terra Virtua to build new ways to release value locked in non-fungible digital assets.
Polkalokr is building a user-centric digital experience platform within which users can lock, swap and vest tokens and NFTs. One of Polkalokr’s focal areas is the monetisation of locked assets, which is a new an untapped digital asset class. Project tokens that have not entered circulation and collectible digital art have intrinsic value.
Polkalokr’s platform will provide owners of such collectibles the ability to ‘loan’ NFTs in exchange for a fee, whilst simultaneously addressing the ‘trust’ issue, by replacing the human element and introducing governance through a trustless smart contract.” — Imran Ashfaq, CEO & Co-Founder of Polkalokr
About Terra Virtua
Terra Virtua is an entertainment-focused collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in PC, Web, Mobile and Augmented Reality. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities.
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About Polkalokr
Polkalokr is the first all-in-one, multi-chain token locking & escrow platform with built-in privacy functionality. Our products help build trust within the defi space by removing the human element and focusing on governance through code, with a seamless, omni-channel digital experience platform accessible via mobile, tablet and desktop.
