Financial Interest: Lovelace World Partners with Polytrade
We are yet to see a major mover attacking the traditional trade finance corner of the market hence why Lovelace is proud to announce our newest partnership with Polytrade.
Polytrade is a decentralized trade finance platform that aims to transform receivables financing. Polytrade connects buyers, sellers, insurers, and investors for a seamless, on-chain experience. Polytrade also provides real-world borrowers access to low-interest liquidity and swift financing to free up critical working capital tapped from crypto lenders and their yield-seeking mandates.
This partnership will bring a mix of fun cross-collaboration experiences and more technical integrations.
Lovelace will be assisting Polytrade in gamifying access to these trade finance opportunities through the implementation of P2E and staking mechanics accessed through their “metaverse-as-a-service” toolkit.
Both Lovelace and Polytrade will also be exploring commerce-based NFT solutions using Polytrade’s proprietary products and the ideation of a very exciting upcoming product in Polytrade’s ecosystem.
An official from the Polytrade Team had this to say:
“The partnership will open up an audience of newer customers and different market segments for the Polytrade ecosystem. Gamification is part of our roadmap and Lovelace will help us achieve those goals while providing additional benefits to the Adanimals holders!”
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.
Shaping the future of Trade Finance.
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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.
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