Canada, Apr 12th, 2022 — Cryptagende Verse, an innovative decentralized gaming startup considers the adoption of ERC721R. The new standard will set a specific length of time (set by the project party, for example, one month) refund period when it is issued. During this period, the fees paid by the user for minting the NFT will be hosted in the smart contract. Before the end of the refund period, the project party has no right to withdraw funds from the smart contract, and the user (and the buyer of the secondary market) can choose to return the NFT within this period, return the NFT to the project party, and get back the corresponding casting fee (excluding gas fee).
The introduction of ER721R serves to govern the integrity and standards of game developers by fostering a stronger sense of responsibilities within the NFT space.‘’If our supporters believe that a second layer of protection or a grace refund period would allow them to make more responsible minting or investment decisions, we’d gladly offer that reassurance to them in good faith. We will always embrace any new discovery or additions of blockchain technologies that serve to drive the re-revolutionary innovation efforts for our industry in a new light ’’ Said the CEO of Cryptagende Verse, Marcus Allison.
Overall, the design of ER721R directly points to the extremely common “rug pull” problem in the NFT field. As the popularity of NFT has risen rapidly in the past year, the market has long been mixed with a fair share of authentic and ‘fake’ goods, filled with a large number of superficial hydes and even purely fraudulent projects.
Any project with absolute confidence in its future development only needs simple integration to dispel users’ ‘rug pull’ concerns. The Cryptagende Verse team will continue to monitor the underlying implications of ERC721R and actively seek out alternative solutions to better govern the interest of our supporters or any other measures that would bridge trust within the Cryptagende Verse community.
About Cryptagende Verse
Cryptagende Verse is a Canada-based startup, led by former Ubisoft game developers, that introduces a brand-new economic model for the Metaverse Gaming Industry. The triple-A MMO shooter fuses the classic online shooter modes with a new web 3.0 wave of player-created content to deliver the first Triple-A online experience with a fully functioning, Blockchain based trading system. The Cryptagende Verse is being built on the Ethereum Network, with fully supported trading capabilities across all NFT marketplaces.
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