In Q2 of 2022, the crypto digital industry continued to emerge with upsurge and vitality. The NFT trading platform REVA created by REVA, a Metaverse company, was officially launched. At the same time, it launched the NFT pledge custody auction business, which became one of the most eye-catching events in the NFT field. Not only does this business provide solutions to the problems of poor liquidity, difficult valuation and slow liquidation of NFT transactions, but also fill the gap in the NFT loaning market. And UK EARL INTERNATIONAL AUCTION LTD, the parent company of REVA, has also received widespread attention in Metaverse field.
Metaverse company REVA was founded in Silicon Valley in 2019. Its team brings together technical experts from the fields of computer, information security, communication, mathematics, finance, web development and high-frequency algorithm trading. It has core patents in the field of encrypted digital. In 2021, REVA became one of the seven most promising start-up crypto enterprises. The team is not only satisfied with the layout at the technical level, but has anchored its goal to the digital art auction market since its inception. In less than two years, REVA has led more than a dozen high-end digital art auctions in the United States, the United Kingdom, Singapore and other countries, and has been invited by New York several times to hold a number of NFT art gallery exhibitions, leading by Bain Capital and Viking Capital.
REVA’s sudden rise has also attracted the attention of giants in the field of auction and NFT trading, including UK EARL INTERNATIONAL AUCTION LTD, Christie’s, Nago, and Opensea. In October 2021, after several rounds of contact, UK EARL INTERNATIONAL AUCTION LTD finally acquired REVA for USD $50million, making it a wholly-owned subsidiary. After the acquisition, REVA maintained its independent brand and became a specific platform for the NFT market business of UK EARL INTERNATIONAL AUCTION LTD.
UK EARL INTERNATIONAL AUCTION LTD, founded in London in 1886, has a history of nearly 150 years and is one of the world’s oldest art auction houses. After more than 100 years of operation and development, its industries have included antique art auction houses, luxury goods, catering, hotels, entertainment clubs, clothing and other fields. It is a leader in the modern and contemporary art market. It has industrial investment in Europe, the United States, Asia, Africa and Australia, and is one of the world’s top ten auction houses.
Affected by the epidemic since 2020, traditional auction houses that are highly dependent on offline activities are in trouble. UK EARL INTERNATIONAL AUCTION LTD has opened the way to seek transformation. With the growing popularity of the NFT market, UK EARL INTERNATIONAL AUCTION LTD has farsightedly felt the future potential of the digital economy, actively deployed the field of digital art collection, and become the leader in the digital transformation competition in the auction industry. In order to realize the grafting of traditional auction business and digital art collection transactions, UK EARL INTERNATIONAL AUCTION LTD conducted a global survey, and finally selected REVA, a start-up with a high degree of business fit with itself.
REVA has the core technology and market expansion ability to lead the NFT field. After receiving the continuous supply of funds, technology and resources from UK EARL INTERNATIONAL AUCTION LTD, REVA expanded its technical team and actively promoted the development and construction of NFT digital art collection service platform, so as to build a world-leading NFT ecosystem.
As the authority of the traditional auction industry, REVA has established a strong board of directors, including the world’s top financiers of Viking, senior auctioneers of UK EARL INTERNATIONAL AUCTION LTD, and top artists in the world, providing REVA with strong financial support and resources. At the same time, REVA spent a lot of money to build a core operation team composed of digital art appreciation experts, blockchain technology experts, NFT technology experts and financial analysis experts, providing REVA’s digital art collection and auction business with professional, high-quality and safe auction transaction guarantee.
The mortgage auction business launched by REVA platform has continuously improved the intrinsic value and standardization of NFT. Through REVA platform, users can quickly mortgage NFT collections, obtain loans, let idle precious collections enter the circulation field, and solve the problem of cash flow. They can also entrust REVA to auction the collections to realize rapid liquidation. At the same time, they can also obtain value-added profit dividends and low-cost compensation generated by the auction. As a platform party, REVA provides customers with safe and accurate valuation services and simple and efficient operation matching, which not only increases the circulation of NFT collections, but also hopes to combine with more items in the real world, so that NFT can truly act as a bridge between the physical world and the blockchain world.
“REVA is not only for single traders, exchanges and institutions can use REVA to obtain additional liquidity, trade assets and obtain income.” Kunov.Alidor, the CEO of REVA, said, “both UK EARL INTERNATIONAL AUCTION LTD and REVA are open to the introduction of strategic partners.” At present, a number of financial institutions, including the global asset management organization Hoping Club, Santander Bank and Cowen, are negotiating new businesses with REVA. With the joint efforts of the powerful, it will create a globalized and decentralized NFT and Metaverse integrated business.
The launch of REVA platform and pledge custody auction business, based on the traceability and confirmation of property rights, combined with blockchain technology, deposit certificates of digital assets generated by traceability results, and provide professional valuation trading services, are important innovations of UK EARL INTERNATIONAL AUCTION LTD in blockchain and digital transformation layout, which not only reflect the real value of digital assets, but also promote the improvement of market rules and order, and protect the rights and interests of investors, accelerate the exploration of WEB 3.0 and promote the financialization of NFT.
