The financial application brings Buy Now, Pay Later (BNPL), financing and strike services to the metaverse.
Based on Cyan’s official press release, 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 to provide collectors with financing services to purchase non-fungible tokens (NFTs).
We are delighted to have @animocabrands join us in making NFTs even more accessible to everyone through our buy now pay later service 🤝
More info: https://t.co/T09QbFRGUe pic.twitter.com/GjU4BKFXg0
— Cyan (@usecyan) March 23, 2022
Did you know?
Do you want to get smarter and richer with crypto?
Subscribe – We publish new crypto explainer videos every week!
Buy Now, Pay Later allows customers to purchase a product or service, in this case an NFT, with a payment obligation over a period of time, usually without any interest.
Speaking about the investment, Executive Chairman and Co-Founder of Animoca Brands Yat Siu stated:
“The service offerings proposed by Cyan are especially important for the open metaverse as it will help ensure participation and inclusion across a wider range of financial backgrounds.”
In addition to financing options, Cyan will also offer other services such as placing NFTs as collateral for loans and putting out vaults to earn a return on the metaverse.
by means of
Dom Z. – Crypto Analyst, BitDegree