Belgian blockchain company Venly launches NFT app: “We want to make blockchain mainstream and user-friendly”

The market for non-fungible tokens (NFTs) is booming. Venly, a Belgian provider of blockchain technology, also acknowledges this, launching an NFT app on the e-commerce platform Shopify this week. The Venly app allows merchants to store and sell NFTs in a very user-friendly way. Business AM had a conversation with Yan Ketelers, CMO of Venly.

Short history and balance in your company?

Yan Ketelers: “We were founded in 2018. We started with crypto wallet services. This means that we will manage the back-end of wallets for projects involving a user, e.g. onboarding† a wallet belongs to the user, but that project can hardly manage all the wallets or money itself. Then our technology is used to link all these wallets to the users. That’s what we started with. After the wallets, we have seen that more and more blockchain games started using our technology. In addition, NFTs had become even more important than regular tokens (fungible tokens like Ethereum, or in-game currency token† And that’s why we started thinking (our wallets could support NFTs). Then we centralized NFTs and started building the NFT marketplace; The Venly market. “

How many are you?

boilers: “13, more than half developers.”

Blockchainagnostic

So if I understand correctly, are you a competitor to OpenSea?

boilers: “The difference is that we use blockchainagnostic to be. You can buy NFTs on various blockchains in our marketplace, without having assets on the specific blockchain. With OpenSea, for example, if you buy an NFT on the Ethereum blockchain, you have to pay with tokens on Ethereum. It’s different with Venly Market; you just need to buy USDC (a stablecoin). And with USDC (Circle) you can buy NFTs on both Binance, Polygon, Hedera and Avalanche blockchain. As a user, you do not need to know yourself: which blockchain, which assets; you can just buy the NFTs. “

“We support 11 blockchains on the wallet and 4 on the marketplace. And there will be more in the future. Our intention is to make blockchain mainstream. And to achieve this, blockchain technology must become much more user-friendly. We build the technology for that. We want to make it more user-friendly for the end user; the one who buys or sells the NFTs or who plays games on blockchain. But also for projects like blockchain games or metavers who want to integrate wallets or marketplaces very easily. “

What are the use cases of your technology?

boilers: “At the moment, it’s mainly about games. But we also have a client like Bsit, an application that searches the neighborhood for babysitters for young parents. They will actually reward active users with a token that they can get a discount on in Bsit. And they also use our wallet technology for that. ”

“Another use case is, for example, The Sandbox, a metaverse on blockchain. In it you can buy a character in the game, or a house; of which we are a technology supplier; the house is then an example of an NFT and is in your wallet. ”

Buying and selling NFTs

Suppose I want to buy and sell NFTs. How do I do that with the Venly app in Shopify?

boilers: “We have our NFT marketplace. All NFTs can be traded on it. Our vision is to make NFTs more mainstream, including making the process of selling or creating NFTs easier; we built an app on Shopify for that. “

Here’s how it works: If you have the Shopify webshop, you can download the Venly NFT app in the Shopify apps section. It’s currently in a beta pilot with Shopify. First you need to get in touch with Shopify and Shopify will say , that you have been approved to install that app. Then you have a monthly fee that you pay at Shopify to use the app. And then you can, depending on which plan you have chosen, make a number of NFT contracts. And sell NFTs. And it’s basically the same process as creating a product in Shopify. Just specify that it’s an NFT product. Then you create what you upload the visual, give a description. Then you can specify how many of them can be made and whether there is a maximum. ”

“Then you put it online for your buyers. And as a buyer, you will buy an NFT in the same way that you would buy any other product. I often compare it to an e-book: If you buy an e-book, you will receive an e-mail with the PDF file. If you buy an NFT via Shopify, you will receive an email from Venly, where a wallet has been created. Then you click on the wallet, you will get a wallet that is linked to your e-mail address, and then you will see NFT. ”

Create NFTs

And to create these NFTs, do you have to be a programmer?

boilers: No! Our technology simplifies the process for the user. You will get a box where you can upload the pictures. It can be a video, an image, a 3D image. Can also be a sound clip. Then you give a title, a description and then all the properties. †And a property can be, for example: color – blue, type – human, strength – 6† Then you just send it in fields, and then a number and NFT is created. And the moment it is purchased, it is mined by our technology in the backend, and then the NFT is sent. “

Belgian projects

What other projects are you collaborating on? In Belgium?

boilers: “We work primarily with blockchain projects. We are very active in all NFT entertainment and games. There are also other marketplaces that we work with: Gamin, for example. But then we also collaborate to deliver technology, in our ecosystem, with Binance Smartchain, with Polygon, with Avalanche and with Hedera. ”

“Cryptopic, a company in Brussels, uses our technology for wallets, and they also use our marketplace to sell their NFTs. Bsit is also Belgian, so they use our wallet technology.”

Mainstream

When do you think NFTs will really become mainstream?

boilers: “For a period of 2 to 3 years, NFTs will be established in companies.”

“NFT e-commerce will be at least as big as regular e-commerce.”

“Our vision is really that NFTs are a proven better application for event tickets, for example. A share in a company can also become an NFT. These applications will prove that NFTs are a better technology than the one we use in day to issue tickets or shares. “

“We want to be the party that makes it possible for football clubs to get started with NFTs, but also for the football clubs’ subscription holders so that they can be easily kept in their wallets.”

(lp)

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