Hong Kong – SOLARR, a decentralized platform for liquifying NFTs headed by ex-investment banking and tech executives from Morgan Stanley, Credit Suisse, J.P. Morgan, Microsoft, and Opera, has raised US$2 million in seed funding. Through the funding, SOLARR aims to usher in the next generation of utility NFTs by expanding utility and unlocking value from digital assets. It offers a one-stop, secure multi-chain ecosystem for users to compose, customize, and embed utilities into NFTs. Additionally, the platform serves as a bridge for users to generate new digital assets in the virtual market and beyond.
With a goal of accelerating the world’s transition to a decentralized digital economy, SOLARR’s seed round is backed by ecosystem investors, All In Ventures Fund, JY Cap, MD2 Digital, and professional investors.
The company said it seeks to “simplify NFT-commerce” with its disruptive NFT-as-a-Service (NaaS) offering. The SOLARR ecosystem comprises a curated NFT Marketplace, SOLARR Square, with a suite of integrated services. SOLARR Square presents a branded store shopping experience with carefully vetted brands for digital asset shoppers to shop with greater confidence and peace of mind.
SOLARR takes the NFT Marketplace model a step further by offering users opportunities to liquidate and receive incentives through its integrated stake-to-earn model and NFT as collateral services. Besides locking their assets in return for incentives against NFTs staked, owners can unlock their asset value by putting them up as collateral for liquidity while still retaining ownership of their NFT assets.
Sumsun He, CTO of SOLARR, said that SOLARR takes all the complication out of NFT-commerce with its disruptive ‘no-code’ NFT-as-a-Service featuring NFT payment gateway and flexible composability features such as embedding royalties into subsequent sales.
“We want to make NFT-commerce quick, easy, and cost-effective by empowering brands to create online NFT retail stores and sell branded NFT digital products as a new commercialization model,” He said.
He continued, “SOLARR is building a virtual economic infrastructure that will power the liquifying of the NFT and Metaverse ecosystem.”
Meanwhile, SOLARR has completed its Testnet application and is preparing to launch its beta application ahead of its highly anticipated public sale in June 2022.