London, UK, May 17, 2022 (GLOBE NEWSWIRE) — REVA, which has emerged as the most promising crypto startup recently acquired by traditional auction house giant UK EARL INTERNATIONAL AUCTION LTD, for US$50 million, launched his mortgage auction business. Following its acquisition by UK EARL INTERNATIONAL AUCTION LTD, the fledgling company’s valuation quickly reached $500 million.
Founded in Silicon Valley, REVA is a professional blockchain technology research and development company, focusing on research and development and exploration of emerging technologies in the industry. With core technologies in the field of NFT, REVA is recognized as the world’s leading well-known NFT platform for digital art collection. Depuis sa création en 2019, la société s’est concentrée sur la collecte et la vente aux enchères d’œuvres d’art NFT haut de gamme et a dirigé avec succès de nombreuses ventes aux enchères NFT à New York, Washington, Los Angeles et elsewhere. REVA’s extensive technology and skilled operational experience in the NFT market has attracted the attention of industry leaders including Christie’s, Sotheby’s, UK EARL INTERNATIONAL AUCTION LTD and Opensea. After several consultations, REVA rejected the acquisition proposals of several groups and ultimately chose UK EARL INTERNATIONAL AUCTION LTD.
UK EARL INTERNATIONAL AUCTION LTD revealed in an official press release that REVA became its wholly owned subsidiary after the acquisition. REVA will continue to maintain its independent brand and business and will become the primary platform for UK EARL INTERNATIONAL AUCTION LTD, which will be responsible for NFT market activities. Going forward, UK EARL INTERNATIONAL AUCTION LTD, as REVA’s parent company, will provide ongoing financial, technical and resource support. While no one knows what the next trend in the NFT market is, it can be said that REVA’s strategic vision is exceptional. The NFT mortgage auction business will continue to offer good investment opportunities in 2022 and beyond. REVA is also likely to become another unicorn company in the NFT arena.
Despite the geometric growth of the NFT market, many problems remain. The main reason for this problem is the strong polarization of NFT products. Anyone can generate and create their own NFTs on the platform, making users completely unable to distinguish which NFTs have real value among tens of millions of NFTs. On the other hand, most people are sought after by a handful of NFTs, but the price is high. After being bought and collected by a few big investors, they are no longer sold and regular NFT users are rejected.
As an institution that has been closely involved in the NFT field for many years, REVA accurately recognizes that in the current market environment, liquidity and price are concentrated only in high-end products of hot projects, and the huge NFT market faces a wide range of to problems such as lack of liquidity and distorted valuation. REVA boldly launched its NFT mortgage auction business, pointing directly to the two weaknesses of low liquidity in the NFT market and the lack of a pricing system. By providing liquidity and allowing inactive NFT to unlock more value, REVA can further clarify asset valuation and resolve issues.
The REVA Mortgage Auction undermines the trading rules of real assets and digital assets. The NFT Mortgage Auction launched by REVA has opened up new opportunities for holders to monetize their NFT. It has become a new way to earn passive income in the world of cryptocurrency. NFT-owned users can gain benefits without selling or losing ownership of their collections by auctioning their REVA mortgage assets.
In order to be able to make a clear estimate of NFT’s assets, REVA has invested a lot of money to build a team consisting of digital art valuation experts, blockchain technology experts, NFT technology experts and experts in financial analysis. At the same time, the company’s board of directors and core team acquired teams, including Viking’s largest global financiers, senior auctioneers and artists from Britain’s General Public Auction House, who provided professional and quality services for REVA’s NFT digital art collection and auction. company, with a secure auction transaction guarantee.
REVA mortgage auction activity makes NFT more financial. It can not only meet immediate cash needs, but also make a profit by taking advantage of short-term investment opportunities. More importantly, it can take advantage of long-term investment opportunities to meet “real life” needs without selling valuable assets.
REVA’s NFT Mortgage Auction actually consists of three parts. One of these is the NFT mortgage. REVA accepts the mandate of clients with high quality NFT collections and can provide loans to clients through NFT mortgages to solve client cash flow problems. Customers are required to pay weekly interest to the REVA platform.
The second is the auction entrusted to NFT. By pledging the NFT collection to REVA, the customer enters into a protocol with REVA and REVA entrusts the auctioning and collection of the NFT collection. REVA will assess the value of the NFT collection based on the historical data of the NFT collection bid amounts and the professional advice of the expertise team, and will sign a specific mandate contract with the client based on the assessment results. The content of the mandate contract contains the NFT mortgage protocol. In addition to the auction protocol entrusted to NFT, there is also an auction guarantee protocol.
Thirdly, the auction guarantee protocol is based on the appraisal value signed by both parties. REVA auctions and guarantees the product entrusted. If the final price of the transaction is higher than the price entrusted, the higher share of the profit will be shared between the client, the investor and REVA. If the final amount of the purchase and offer is less than the price entrusted, REVA and the investor will jointly proceed to indemnification.
As a platform party, REVA mainly fulfills the role of entrepreneurs’ organization in the mortgage auction sector. The REVA platform accepts the mandate from clients to participate in and markets NFT mortgage auction activities, and then investors choose the specific products launched by the REVA platform to participate in crowdfunding. REVA is responsible for organizing the business, assessing the value, organizing the auctions and charging a certain portion of the transaction processing fee.
In addition, REVA provides hosting services, which allow customers to easily match NFT buyers and sellers, which is very suitable for new users. Users don’t have to worry about losing their keys. This practical and reassuring remedy is also suitable for experienced people. The operation interface generally adopts humanized design, and the whole process also has strong fault tolerance. In case of a problem, the platform will help you through support services.
The opinions, suggestions and opinions expressed here are the sole responsibility of the experts. Do your own research before making any financial decision regarding any crypto company or assets.