NFT platform Unique Things explores e-Money’s European Stablecoins
NFTs initially gained prominence through digital artwork, but are now penetrating multiple product and service categories. As the crypto ecosystem matures, we will likely see far more use cases of NFTs than what is on offer today. As such, we are proud to collaborate with one such project, Unique Things, the first marketplace for real products and services backed by NFT Proof of Ownership.
Unique Things MetaMarket
NFTs have found huge traction in the GameFi industry where gaming characters, as well as in-game assets are recorded on a blockchain and signify a right of ownership, and in some cases, facilitate a secondary sales market for these virtual products.
Unique Things offers a platform where physical products can be sold, and their attributes such as ownership, history, price etc. are recording onchain and also transferred to the buyer in the form of an NFT. Once the NFT Digital Proof is registered, the product receives a unique QR code in the form of a tag, or an engraving, which enables access to its blockchain data.
Purchasing goods and services with e-Money’s stablecoins
e-Money has been progressing along its roadmap; integrating across chains, adding a fiat on ramp in the form of debit and credit card purchases, as well as enabling new use cases for its stablecoins. The Cosmos project offers a strong alternative to dollar-denominated stablecoins in the form of its fully compliant, asset-backed, and interest-bearing stablecoins such as EEUR, ECHF, ESEK, ENOK, and EDKK.
Unique Things plans to explore integrating these stablecoins into their ecosystem, thus increasing the popularity of its marketplace among a European user base as well as enabling a new cohort of users to transact on its platform.
About Unique Things
Unique Things MetaMarket is the 1st marketplace where all real and digital products are backed by NFT Digital Proof of Ownership and Authenticity (NFT-DP) and where NFT represents more than just a picture.
The Marketplace model is a top-notch combination of Amazon/eBay/Esty and OpenSea. At the UT marketplace, any products and services will go together with the NFT Digital Proof Check-Up feature to enable fast and easy authenticity and ownership verification.
There will be placed: 1) products from private creators and big manufacturers 2) NFT in the service industry (from TV subscriptions to medical services or car rent) 3) personal belongings/memorabilia from famous people and organizations worldwide.
Each item will receive a unique QR code that will serve as a verification tool and will show the information embedded in an NFT-DP about the item’s characteristics, history, owners, and etc. With the easiest Check feature, it will take just a smartphone camera to track or prove the uniqueness of a thing (no other app will be required).
The NFT Digital Proof will serve as an electronic document to a real-life or digital product. You can сreate NFTs, buy, share, rent, pawn, sell, and more.
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and helping people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” which is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Cosmos Hub, Osmosis, and Ethereum and expects to integrate with all major networks moving forward.