NFTFi is an NFT lending market that offers the financial utility of NFTs and permits NFT enthusiasts to use their collection for rent, borrow, and fractionalize NFTs.
Utilizing collateral for borrowing loans is a traditional process, but nobody ever imagined using digital art as collateral. NFTFi is a top liquidity protocol for Non-fungible tokens (NFTs) allowing NFT fans to borrow digital assets from lenders using the NFT collection as collateral. The platform opened doors for earning returns, unlocking liquidity, and taking part in the emergent NFT finance ecosystem.
Let’s explore the NFT lending market in-depth.
What is NFTFi?
Launched in 2020 by Jonathan Gabler, and Stephen Young, NFTFi is a lending platform that uses NFTs to finance transactions by accessing more liquid assets. Here, digital collections are used as collateral to borrow digital assets from lenders.
Source: NFTFi
Moreover, the collision between Decentralized Finance (DeFi) and NFTs enhanced possibi
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