cryptonews
2021-11-04 11:21:00

NFT-Backed Lending Market Rises, USD 1.4M Borrowed With an NFT as Collateral

Non-fungible tokens (NFTs) are increasingly being used as collateral against loans. Recently, the possibly largest ever such loan was issued for USD 1.4m using the crypto lending platform NFTfi, with the Autoglyph 488 NFT as collateral. Autoglyphs are an “on-chain” generative art collection made up of 512 assets on the Ethereum (ETH) blockchain. The collection is created by Larva Labs, known far and wide for its pixelated digital avatars dubbed CryptoPunks....Read More: NFT-Backed Lending Market Rises, USD 1.4M Borrowed With an NFT as Collateral

Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer