Place/Date: - May 13th, 2022 at 12:44 pm UTC · 4 min read
SOLARR, a one-stop decentralized platform for liquifying NFTs, has raised $2 million in a seed funding round led by ecosystem investors, All In Ventures Fund, JY Cap, MD2 Digital, crypto investors, and high-net-worth professional investors.
Headed by ex-investment banking and tech executives from Morgan Stanley, Credit Suisse, J.P. Morgan, Microsoft, Opera, and leading blockchain application and digital asset trading platforms, the SOLARR project is preparing to launch its beta application ahead of its highly anticipated public sale.
SOLARR aims to accelerate the world’s transition into the decentralized digital economy by launching a ground-breaking platform where NFT-based liquifying products and services can infuse utility into and unlock the liquidity of NFTs, enabling widespread adoption beyond the crypto space.
The current NFT landscape is not without challenges. The fragmentations between hundreds of marketplaces, platforms, and creators, combined with operational complexities, make access for the masses difficult, cumbersome, and expensive. On top of that, difficulties in price discovery make NFTs highly illiquid, volatile, and capital inefficient. Moreover, most NFTs also have limited utility, with only internal utility but lacking real-world utility and use cases.
SOLARR aims to solve these challenges and usher in the next generation of utility NFTs by empowering digital asset owners, creators, and brands with decentralized NFT-based liquifying tools that remove centralized barriers. It offers a one-stop, secure, versatile, and multi-chain ecosystem for users to compose, customize, and embed utilities into NFTs. The platform is also ultimately a bridge for users to create new digital assets in the metaverse virtual economy and beyond.
The SOLARR ecosystem comprises a curated NFT Marketplace, SOLARR Square, with a suite of integrated service portals and protocols offering a wide range of products and services. Designed in a humanistic style with an easy-to-use interface, SOLARR Square presents a curated branded store shopping experience for digital asset shoppers and features carefully selected and vetted brands so collectors can shop with greater confidence and peace of mind.
For businesses and brands, SOLARR takes all the complication out of NFT-commerce with its disruptive “no-code” NFT-as-a-Service featuring an NFT payment gateway and flexible composability features such as embedding royalties into subsequent sales. SOLARR’s solution makes it quick, easy, and cost-effective for brands to create an NFT online store and sell branded NFT digital products as a new commercialization model.
SOLARR takes the NFT Marketplace model a step further by offering consumers and businesses opportunities to liquidate and receive incentives on its platform with its integrated stake-to-earn model and NFT as collateral services. NFT owners can unlock their asset value by putting them up as collateral for liquidity while still retaining ownership of their NFT assets. NFT owners can also lock their assets up in return for incentives against the NFTs staked.
SOLARR is essentially building a virtual economic infrastructure that will power the liquifying of the NFT and Metaverse ecosystem.
SOLARR’s Token (SLRR) is the native token that powers the SOLARR ecosystem, enabling community members to purchase exclusive NFTs and pay for transaction fees, lock up tokens to participate in the platform’s governance, or stake to earn yields. Community members can also earn SLRR when they refer participants to the various services on the SOLARR platform.
Riding on the success of its seed round token sale, SOLARR has started preparation for its private round token sales, scheduled to begin at the end of May, and public sale to commence beginning of July 2022.