Scratch, the decentralized finance company, has concluded its Simple Agreement for Future Tokens (SAFT) allowing investors to be stakeholders in its non-fungible tokenized financial services (NFT) with the limited launch of the scratch token.
San Juan, Puerto Rico, March 23, 2022 /PRNewswire/ — Scratch — the research, testing and lending company NFT — officially launches the Scratch Token for the scratching platform: an NFT industry first designed to standardize the market value of NFTs by leveraging multiple public tools and datasets.
This valuation is backed by offering investors the possibility of taking out loans with their NFTs as collateral. The Scratch Token allows investors to be stakeholders on the platform.
This limited launch of Scratch Token – currently only available through Uniswap until it obtains Regulation A approval from the United States Securities and Exchange Commission (SEC) – coincides with the completion of the first audit of Scratch Platform security by the leading blockchain and decentralized finance (DeFi) security platform, Certik.
“It’s clear with record months in 2022 on NFT valuations – even outperforming cryptocurrencies – that the NFT industry is taken seriously around the world,” says Shawn Owen, Co-founder of Scratch. “It’s amazing to see people realize that this can be fun technology, but it’s also serious and life-changing for the artists and communities who are so passionate about NFT.”
“Currently, it is difficult for anyone to evaluate NFTs at scale. But with future product development versions of Scratch Platform, it is possible and can unlock new financial applications for NFTs. Scratch Token – from ‘today with a limited launch – will help power those apps,’ Owens elaborates.
At SXSW 2022, NFTs dominated the event alongside Web3 technologies, excluding most bitcoin and other crypto projects. While the NFT segment of the crypto economy is taken very seriously, it is also a market sector that lacks standardized data research, asset valuations, and financial services. These are issues that future product development releases of the Scratch platform aim to address.
This limited launch of the ETH-based ERC 20 scratch token for the scratch platform is part of the platform’s multiple development phases current roadmap. As these future development phases for the progression of the Scratch Platform and partnerships with Scratch are finalized, planned features of the Scratch Platform include:
- Scratch Value: A programmatic valuation solution for NFTs and digital assets using multiple market tools and the latest market data sets. This allows investors to receive real-time values on their NFTs and other digital assets.
- Scratch Loan: A first for NFTs, take out a loan of a percentage of the estimated NFT value on the assets. Once assumed, the asset is stored in the Scratch Vault. Lending factors include: loan amount, loan term, timeliness and value of NFT, etc.
- Scratch Vault: The repository of all loaned NFTs and digital assets. Scratch Vault assets are secured and insured to prevent loss of value. Investor asset transfer and withdrawal options will also be available.
- Scratch Gallery: A future marketplace where investors can purchase our collection of NFTs and other digital assets. The Scratch Gallery collection is obtained from assumed loans and direct purchases from the Scratch Engine.
To learn more about the Scratch platform and scratch token presale, or to schedule an interview with the Scratch team, please call Brian Markowski at +1 603 306 3645 or email [email protected]
“Security, stability and scalability” is the Scratch team’s mantra, underlying all of its projects. To learn more about Scratch and the Scratch Engine platform, please visit scratchengine.com.
With over a decade of experience in the combined digital asset space, Scratch is a company with the experience to bring the tools, standards, and strategic partnerships needed to build trust and financial services to NFT economies. , metaverse and blockchain. “Security, stability and scalability” is the Scratch team’s mantra, underlying all of its projects. To learn more about Scratch and the Scratch Engine platform, visit scratchengine.com.
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