Polytrade announces partnership with Lovelace for its ambitious Metaverse plan
Polytrade Finance is excited to announce its partnership with Lovelace, the first Metaverse as a Service platform allowing creators to easily develop digital products with gamified rewards.
Polytrade and Lovelace will work together to create a Play 2 APY model to give a gamified experience on Polytrade platform. Furthermore, Lovelace NFT holders will be incentivized with a preferential bonus APY on Polytrade.
Polytrade is building a 100% on-chain trade financing and business finance solution specifically focused on the Metaverse. Polytrade and Lovelace will jointly work on ideation and development of commerce-based solutions focused on NFT for the Polytrade Meta product. Lovelace will be enabling gamification for Polytrade to improve usability and customer experience for Borrowers and Lenders on the platform.
Commenting on the partnership, Arul Prakash, COO, Polytrade said, “The partnership will open up doors for a new customer segment in the DeFi space. Gamification is an important milestone in Polytrade’s journey and Lovelace will help us achieve that objective. On the other hand, Polytrade will provide additional benefits to the Shanimals holders. ”
“We believe strongly in the real world applications of blockchain technology and NFTs which is why we have pursued this partnership. Polytrade is perfectly poised to assist us in making a move at the massive addressable market at play here” — says Co-founder, Lovelace
About Lovelace World
Lovelace empowers creators to realize the potential of the Metaverse through its NFT marketplace, Play-to-Earn gaming engines, smart contracts, launchpad, and partner integrations.Our Metaverse-as-a-Service toolkit helps creators breathe life into their NFTs, games, digital economies, and worlds across Cardano and other blockchains.
About Polytrade:
Established in 2014, Polytrade is a lending protocol that caters to the working capital needs of small and medium scale enterprises in developing economies, thereby helping them fulfill their orders to large global enterprises like IKEA, Walmart, Nike, etc. We have financed US$ 500 million worth of invoices in the real world. With an in-depth awareness of pain points and issues faced by SMEs, in 2021, we started developing a blockchain-based decentralized finance protocol that will harness the massive liquidity pool of the crypto world to meet the working capital needs of SMEs globally by tokenizing real-world invoices and bringing them on-chain into the Defi space. The protocol is already on Testnet and all set to launch in January.
The untapped opportunity in trade finance is of the order of $ 1.7 trillion and by connecting buyers, suppliers, insurance service providers and investors through a seamless platform, Polytrade aims to transform and amplify global trade for healthy economic growth. Polytrade is also working on a Metaverse product that will enable enterprise-to-enterprise transactions in the Metaverse as the space continues to see an influx of consumer brands.
