Next milestone of VALOR Prime – payment integration with exchange

Tuesday, June 8, 2021
valor prime
SMART VALOR has reached the next milestone of its NFT Marketplace VALOR Prime today. With it the technical development of the key functionality is completed and the focus shifts to asset sourcing.

VALOR Prime technical milestone

SMART VALOR development team is happy to announce that they accomplished the development of key functionality. The fiat and credit card functionality allows users to pay for NFTs bought on its VALOR Prime with traditional payment methods. This is achieved through integration of VALOR Prime, the NFT marketplace, with SMART VALOR, the fiat-crypto exchange. This is one of the key features of VALOR Prime as it allows users to easily buy NFTs without the need for setting up their own non-custodial wallets such as Metamask (Web3 wallets). Moreover, this also significantly decreases cost, as the SMART VALOR exchange is covering gas fees when purchases are done via SMART VALOR wallets.

This important feature is also setting VALOR Prime apart from other marketplaces such as OpenSea and Rarible as one of the few which has fiat on-ramp. Having traditional payment mechanism integrated into the NFT marketplace is key prerequisite to drive the adoption of NFT beyond the early NFT adopters circle bringing it to the everyday exchange users and people not familiar with crypto.

CEO of SMART VALOR Oliver Feldmeier said, “I am happy the team has accomplished this technical development milestone. With this user can enjoy zero gas fees transactions when buying NFTs with the funds from their SMART VALOR account."

Using fiat and credit cards for NFT purpose is a non-trivial challenge. This is due to the fact that all fiat transactions require personal identification and adherence to compliance / KYC (Know Your Customer) requirements. Most of the NFT platforms today have not yet figured out how to deal with this big issue today. This is where SMART VALOR today has a competitive edge. As one of the very few fully compliant exchanges, authorized by Finanancial Market Authority (FMA) in Liechtenstein, SMART VALOR deals with fiat and installed a highly efficient onboarding process. This is the key asset we are bringing to our new NFT marketplace.

Using SMART VALOR already? Connect your VALOR Prime with SMART VALOR wallets:

call for nfts

Step 1: Login to your VALOR Prime account

You can use your regular SMART VALOR credentials to access VALOR Prime.

Step 2: Navigate to the wallet Icon

This icon is located at the top right of your account.

Step 3: Click on “Connect SV wallet”

By clicking this you will be redirected to the SMART VALOR Sign up or login page.

Step 4: Login to SMART VALOR

Upon logging in you will be redirected to your settings page.

Step 5: Enable usage of SMART VALOR wallet in VALOR PRIME

At the bottom of your settings page, under “Wallet settings” click on enable.

That’s it! You can start transacting on VALOR Prime using your ETH or VALOR balance on your SMART VALOR wallet. If you’d like to use wire transfer or credit card, simply buy ETH or VALOR on the SMART VALOR exchange and you are ready to explore the colourful space of NFTs on VALOR Prime.

Having this technical and regulatory milestone accomplished, the focus shifts now to the asset sourcing. Here SMART VALOR currently started negotiations with several possible partners such as art exhibitions and auction houses and collectors. Stay tuned for more information and upcoming releases.

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