VANCOUVER, December 9th, 2020 - Covalent is happy to announce a partnership with Terra Virtua, a truly immersive collectible platform across Mobile, AR and VR with unique social, gaming and creative experiences, enabled by blockchain.
As the technology behind DeFi and crypto has matured along with the level of wealth in the space multiplying, the appetite for non-fungible tokens has significantly increased. Although they are nothing new, NFTs in the form of collectibles and digital art are quickly becoming more than just a niche of crypto. However, with most investor tools focused on cryptocurrencies, there is a gap in the market for mechanisms exclusively focused on collectibles. Covalent and Terra Virtua have partnered to address this gap.
Through this partnership, Terra Virtua will be able to provide statistical support on both the individual and institutional level by building tools with key statistics for collecting and investing. For instance, using Covalent data, Terra Virtua will be able to build an analytical dashboard capable of displaying the price appreciation or depreciation of a collectible, the number of times an NFT has changed hands, and wallets it has passed through. Furthermore, as Terra Virtue explores DeFi and novel use cases such as using NFTs as collateral, Covalent will be able to extend their best-of-breed data to this.
Quote from Ganesh, Covalent’s CEO
Quote from Jawad Ashraf, Terra Virtua Co-founder and CTO
About Terra Virtua
Terra Virtua is an entertainment-focused collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in PC, Web, Mobile and Augmented Reality. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities.
Covalent provides a unified API to bring full transparency and visibility to assets across all blockchain networks. Covalent’s proprietary technology enables a “no-code” solution that solves a vast array of use-cases for wallets, exchanges, custodians and taxation amongst others. The API allows easy access to data that is normalized, unified and granular.