The financial application brings Buy Now, Pay Later (BNPL), financing, and staking services to the metaverse.
Based on the official press release by Cyan, the startup project has secured its pre-seed round from one of the largest crypto investors Animoca Brands. With the investment, Cyan will become the first-ever protocol that offers collectors financing services to purchase non-fungible tokens (NFTs).
We’re excited to have @animocabrands join us in making NFTs even more accessible for all through our buy now pay later service 🤝
— Cyan (@usecyan) March 23, 2022
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Buy Now, Pay Later allows customers to acquire a product or service, in this case – an NFT, with an obligation to pay over a certain time period, usually without any interest.
Executive Chairman and Co-founder of Animoca Brands Yat Siu spoke on the investment, stating:
“The service offering proposed by Cyan is particularly important for the open metaverse because it will help to ensure participation and inclusion across a wider range of financial backgrounds.”
Alongside financing options, Cyan will also offer other services like putting up NFTs as collateral on loans, and stakings vaults to earn a yield on the metaverse.
Compiled by Metacrunch. Metacrunch is a news complier and aggregator platform which aims to spread awareness and updates on Metaverse, Web 3.0 Technology, Blockchain, Cryptocurrency, NFTs, Airdrops and many more.
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