Corra.Finance: The Next Big Thing in NFT
From NBA Topshots to digital images and videos to digital games, Non-fungible tokens (NFTs) have had a surreal shot to fame in the last few months. The crypto world has been abuzz with headlines on NFTs, with outstanding million-dollar NFT transactions. While the biggest NFT fans deem it a crusader in the digital world, their oscillating values make some dismiss NFTs as merely a rampant infatuation.
But that’s not surprising. It’s no secret that Bitcoin has had its highs and lows more often than not. Ethereum, the prime cryptocurrency NFTs rely on, rose only to nosedive largely in February 2021.
Moreover, the digital assets you buy through these and flaunt are readily, freely available. Producing and preserving digital art is another tough job with contemporary artists, game developers engulfing the markets, and the risk of it being wrongly replicated and distributed assuredly doesn’t help.
Additionally, Ethereum Blockchain transactions use tons of energy than is standard. While the new NFT creators struggle to carve a niche for them, NFT token platforms come with their drawbacks – hidden fees and fewer utilities, to name a few.
Introduction to Corra
Striving to propel NFTs into the DeFi market, Corra. Finance aims to start from DeFi and gradually move towards non-crypto products. With introducing New Verticals, Token Utility, zero Gas Fee, and Guaranteed profits, Corra. Finance is here to resolve all your woes.
How it solves these challenges
Corra facilitates the monetization of digital content by creating NFTs. The idea is to let anyone conceive NFT products and auction them- basically monetizing their thoughts, words, digital content, products, and so much more.
For instance, you can sell your pictures on Instagram to your fans!
Corra aspires to expand the horizons of NFT, trespassing gaming, and digital arts. It will introduce four new categories to curate NFT products: DeFi, digital content, social media, and nonprofit. Users can create and list products for free (0 gas fees). Although when the users orchestrate a successful sale, the platform will levy a fee, hence ensuring a profit to all NFT creators on Corra.
NFT in DeFi
Corra will launch NFT use cases around new or pre-existing DeFi products.
Below are some specimens:
1) Reducing lock up for staking-related products by X time.
2) Increasing APY for lending-related products by X time.
3) Decreasing APY for others while increasing your APY within X amount of time.
4) Increasing voting rights.
5) Reducing APY for borrowers by X time.
Working with existing DeFi companies, Corra will accumulate data on popular products and work out a version of the DeFi product to showcase the NFT application.
NFT in Digital Content
A photo, video, message, or even a philosophy – anything and everything can be digital content today.
Corra endeavors to break the age-old stereotype of not monetizing art by allowing anyone to create their NFT attached to their digital content freely.
They can then set up a marketplace specifically for this use case. Each user can test the worth of their messages, unworthy likes or comments, but through real money.
For example, Key Opinion Leaders (or influencers, as everyone calls them) can share their photos on Instagram and Corra simultaneously to be auctioned out. Their fans can buy it as a support to the KOL. If future sales occur, you as a KOL are eligible for royalties from the sale, leading to your brand’s growth.
The wait for giant tech companies is over; work for yourself starting now!
NFT in Nonprofit
Corra desires to work with nonprofit organizations worldwide to open up a blockchain solution and funnel more contributions to support their purpose.
With Corra, nonprofits get a platform to create a fresh pool of donations by creating NFT products online and sharing them with their supporters.
The donations can be in the form of crypto. The wallet of the nonprofit organization is made public, for people to know where the funding went. The nonprofit can then propose to the community each time they wish to donate a specific donation amount from the new initiative pool. The transaction will be recorded on the blockchain.
If the nonprofit provides a credible report on how the replication went, donors will continue to support the nonprofit by purchasing NFTs. The pool will remain open for inspection. Over time, if the nonprofit’s brand increases, the buyers of the NFTs can resell them in the marketplace, earning themselves nonprofit royalties on future NFT sales.
NFT in Social Media
Instagram, Tik Tok, and other social media platforms help us make a killing through our digital content like photos, short clips, etc., on their platform. Whatever users post on their social media, they can also post on Corra and auction as NFT. Moreover, they can align the NFT auction with the post on their social media account so their friends or followers can see it.
Anyone who finds it attractive and wants to support or have a piece of your IP can execute a bid on Corra and ultimately purchase it. Your pals can now own a piece of your IP.
Anyone can swap between ERC20 to BEP20 for BEP20 NFTs and spend CORA tokens to heighten product ranking and boost product exposure.
Buyers can vote on the acquisition of NFT products, using CORA as a substitute for transaction fees. This strengthens the community and boosts the Corrator portfolio.
Investors can stake CORA with lock up to gain more tokens.
Team & Advisors
Jason Fang is the founder of Corra.Finance. He leads the venture investments and strategies at Sora Ventures. Prior to Sora, Jason was the Head of Global Business Development at Juzix (now PlatON), a leading blockchain company led by Wanxiang Holdings that focused on distributed ledger technology and multi-party computation.
Jeff Huang, is the co-founder of M17 Entertainment and MITHRIL, a leading live streaming platform in Asia. Jeff Huang will be joining Corra.finance as a strategic advisor and will continue to funnel new use cases for MITH.
Corra is backed by a couple of Venture Capital firms: DFG (Greater China), CDI (Greater China), PhoenixVC (Middle East), ChronosVC (Russia), BSS Finance (Europe), Cryptomeria Capital.
Corra.Finance has recently concluded their private sale. They will announce a public token sale soon.
Follow Corra.finance on Telegram, and Twitter so you don’t miss any updates.
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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