ComScore
nft

What Is Emblem Vault?

What is Emblem Vault 1
Hannah Scherwatzky / ONE37pm

There is a rich history of NFTs that were created on the Bitcoin blockchain, predating many of the popular NFTs we know today. However, because these NFTs are so old, many people aren’t aware they exist, and even if they did, buying and selling them is not easy. That is, until the creation of Emblem Vault in 2020.

Emblem Vault is a tokenized multi-asset wallet on the Ethereum blockchain that can contain one or more tokens or NFTs. You can use Emblem Vault to trade portfolios of NFTs and cryptocurrencies, including assets from different chains, as a single token.

Emblem Vault isn’t exactly new, however, this extraordinary protocol remains relatively unknown. I think it’s time that we open up the vault to the rest of the world, and learn more about what it is and how it works.

What is Emblem Vault?

Every vault within Emblem Vault contains a series of blockchain addresses and is generated from a single secret phrase. You can store various digital assets in each of the addresses and only the person with the secret phrase can send assets to other wallets.

Emblem Vault
Getty Images

Essentially, the Emblem Vault protocol allows you to take different blockchain tokens and put them into a single token, which acts as a multi-asset crypto wallet in itself. The vault is created as a unique ERC-721 token.

Currently, Emblem Vault can utilize assets from Bitcoin, Ethereum, XDai, Polygon, BSC, and Phantom.

What can you do with Emblem Vault?

You can use Emblem Vault in ways unimaginable, let's take a gander at the various ways you can use it.

Emblem Vault on Ethereum
Getty Images

  • Value backed digital assets

You can create a value-backed digital vault that contains one or more digital assets, along with some cryptocurrency. 

  • Tradeable portfolios

You can create tradeable portfolios that combine multiple assets into a single token. For example, you can make a portfolio that contains 50% ETH, 40% Bitcoin, and 10% LINK, and trade all these assets as a single ERC-721 NFT.

  • Portable liquidity pools

You can create a vault with multiple pooled tokens to make transferable liquidity pools, as well as transparent funds. You can do this because Emblem Vault enables you to create a vault that is held by a community, or other trusted third parties.

So, how does all of this work? Great question.

How does Emblem Vault work?

Emblem Vault works by wrapping digital assets to make them modern ERC-721 NFTs, the same type of NFTs that are often traded on popular NFT marketplaces, like OpenSea. That way you can buy and sell assets that predate the ERC-721 standard.

Emblem Vault Create Function
Emblem.Finance

One example of a popular NFT that predates the ERC-721 standard is Rare Pepe’s. These NFTs are some of the first NFTs that were ever created. Rare Pepe NFTs were originally created on the Bitcoin blockchain and were often traded on the CounterParty platform.

However, because Rare Pepe NFTs weren’t originally minted as ERC-721 NFTs, they couldn’t be traded on popular NFT marketplaces like OpenSea, unless they were wrapped to this new standard.

Where to buy Emblem Vault NFTs

If you want to buy your own Emblem Vault NFT such as a Rare Pepe, you have a couple of options to choose from.

Emblem Vault on Opensea
Opensea.io

You can buy Emblem Vault NFTs on OpenSea, LooksRare, and their official website. OpenSea is currently the most popular platform for trading Emblem Vault NFTs, but the others are worth looking into, in order to find the best possible deal.

To create your own vault using Emblem Vault, simply go to Emblem.Finance, select Create, connect the wallet that you would like to create your vault with, and then you can add a name and description.

If you want to sell your Emblem Vault NFTs on a marketplace like OpenSea or Rarible, you will want to follow this how-to guide for more in-depth instructions.

Ultimately, Emblem Vault acts as a modern-day digital asset wrapper that enables old NFTs to be traded in the current market with ease.

Additionally, Emblem Vault gives you the ability to combine multiple assets into a single token, making it easier to trade, and even build a strong digital portfolio.

Did you like this article?
Thumbs Up
Liked
Thumbs Down
Disliked