“You pick an NFT from your inventory and you input the [loan] parameters you’re looking for. You might say, I have an NFT. I think it’s worth $5,000. I want to borrow $2,000 against it, and I’m willing to pay 3% over a 30 day period. And if [a lender is] comfortable with the offer, they are free to fund that loan. Then lenders either get the loan paid back or they get the collateral [NFT], and the counterparty can’t do anything hostile. It’s all trustless and decentralized.”
Related posts
-
XRP Price Resilient Above $0.50 While Markets Turn Red
Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious... -
These Solana alternatives poised for 5,000% growth can potentially turn $100 into $50K
Disclosure: This article does not represent investment advice. The content and materials featured on this page... -
NFT sales drop 6% to $84.6m, Solana retains top ranking
Amidst the recent crypto market price drop, the non-fungible token (NFT) sales volume has dropped by...