- Solv Protocol is a decentralised marketplace for creating, trading and managing Financial non-fungible tokens.
- Solv announced the introduction of an Initial Voucher Offering (IVO) model to crowdfunding.
- The IVO will allow $SOLV owners to mint financial NFTs called vouchers with the ecosystem.
Solv Protocol, the financial non-fungible token (NFT) marketplace on Monday launched an Initial Voucher Offering (IVO) that will disrupt the crowdfunding market. The ERC-3525 tokens will be issued to early investors allowing them to use Vouchers and trade, manage, split, or merge locked up tokens to their liking.
The platform is issuing one million tokens through the IVO that starts on Dec. 13 on the Binance NFT and Solv marketplaces. The financial NFTs being issued combine the technological advantages of the ERC-721 ecosystem with ERC-20, thus enabling users to split and merge NFTs.
Therefore, Solv Protocol will also be tapping into the rapidly growing fractionalized ETF market with the IVO launch. As a result, Solv is potentially redefining the entire fundraising marketplace with the IVO launch.
Ryan Chow, Solv’s co-founder, said the crypto market is built on the foundation of scarce resources. Therefore, there is a need to try to bring in more users to invest in the market long-term. To do that, Chow believes that “teams should make sure their interest and the users’ are well aligned. The best way to do so? Vesting tokens.”
As a result, the Initial Voucher Offering is a new way to get vesting tokens distributed through vesting vouchers. “[We] believe it can become the cornerstone for strong and long-lasting project-user relationships.”
The IVO concept presents an opportunity for NFTs to venture into the financial markets, moving beyond artwork and collectables. The ERC-3525 token is a semi-fungible voucher, which allows users to buy/sell in a secondary market, in full or partially
The IVO model that Solv has decided to use will see tokens flicked inside vouchers, and released sequentially after six months from Dec. 13.
Solv thinks IVO’s provide better long-term opportunities than traditional digital NFTs (artwork, files, collectibles) because, in addition to providing access to private sales, they can also be a source of liquidity to both projects and investors in the current ecosystem.
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