PARSIQ's IQ Protocol to Launch on Solana in a Push to NFTs

Solcery and Sator will be the first projects to utilize the IQ deployment on the Solana blockchain.

By
Anirudh Tiwari
on
November 12, 2021
Category:
Breaking News

Another Push for Solana NFTs

PARSIQ has announced the launch of the IQ Protocol on the Solana blockchain network on Nov. 10, via a Twitter post from IQ Protocol’s Twitter page.

The announcement also mentioned that Solcery and Sators will be the first projects to utilize the deployment of the IQ protocol on Solana. IQ will support Solcery’s subscription model and allow NFT owners to lend their in-game assets to other players for a particular time frame and fixed fee. The IQ protocol will facilitate similar interactions for Sator as well.

“As the metaverse will be made up of multiple connected worlds – each representing a different kind of experience for the participant – IQ provides the means for participants to utilize a DeFi layer for the digital assets in any of the digital worlds which they may enter. This development could revolutionize the industry, as it will create a new economy for NFT holders and an accessibility for borrowers who were previously locked out from owning certain assets – we’re excited to work with Solcery and Sator on bringing this value to their platform and users,” mentioned Tom Tirman, CEO of PARSIQ and Co-founder of IQ Labs in the official Medium blog making the announcement on Nov. 10, 
Source: IQ Protocol Twitter

PARSIQ announced the integration with the Solana network early this year in June 2021. Prior to this, the platform completed a $3 million funding round that was led by the Solana Foundation and Axia8 Ventures. The other investors involved in this round were, Mindworks VC, Krypital Group, Coin United, Transfero Swiss, Elevate Ventures, and Sanctum Ventures amongst others. Additionally, Evan Cheng, the Director of Research at Facebook’s Novi Financial, also contributed to this round as an individual investor.


About PARSIQ

PARSIQ is a blockchain monitoring and workflow automation platform which serves as a bridge between blockchain networks and off-chain applications. Essentially, the project’s main aim is to turn blockchain data into actions. With such integrations, IQ Protocol is attempting to be at the forefront of Web 3.0 technology and allow for renting and lending assets in the metaverse.

Find more about PARSIQ here:

Website | Twitter | Linkedin | Telegram | Medium | Discord |

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.