Payment app Cyan to bring BNPL & Staking to the Metaverse

metaverse app cyan raises 100k funding from animoca brands.o

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).

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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.

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Dom Z. – Crypto Analyst, BitDegree

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