Mainstream NFT Lending Platform Issues $22 Million in Loans
On February 21, according to data from Dune Analytics, the mainstream NFT lending platform issued about US $22 million in loans in the past week. Of the total …
On February 21, according to data from Dune Analytics, the mainstream NFT lending platform issued about US $22 million in loans in the past week. Of the total loans, 41% came from BendDAO (US $9.12 million), followed by NFTfi (US $5.21 million), accounting for about 24%, X2Y2 accounting for about 21% (US $4.56 million), and Ardace accounting for about 15% (US $3.19 million).
The mainstream NFT lending platform issued US $22 million loans last week, of which 41% came from BendDAO
Analysis based on this information:
The emergence of non-fungible tokens (NFTs) in the world of cryptocurrencies has paved the way for new opportunities for both creators and investors. However, with the growing demand for NFTs, investors are looking for ways to unlock liquidity without having to sell their NFTs. This is where NFT lending platforms come in.
According to data from Dune Analytics, a mainstream NFT lending platform issued about US $22 million in loans in the past week alone. BendDAO led the pack, accounting for 41% of the total loans at US $9.12 million. Coming in second was NFTfi, which accounted for 24% of the total loans with US $5.21 million. X2Y2 followed closely behind, accounting for about 21% of the total loans with US $4.56 million, while Ardace accounted for 15% of the total loans, with US $3.19 million.
The rapid increase in the issuance of loans by NFT lending platforms is an indication of the growing interest in the NFT market. Investors are looking for ways to leverage their NFT assets without having to sell them. These platforms provide a solution to this by offering loans against the value of the NFT asset.
BendDAO, the leading platform for issuing loans, has a unique approach to NFT lending. It allows investors to pool their NFT assets together and use them as collateral to obtain a loan. This feature has made BendDAO increasingly popular among NFT investors. NFTfi, on the other hand, offers a loan-to-value ratio of up to 80%, with no minimum loan amount or credit checks required.
The recent surge in NFT lending activities has also prompted more players to enter the market. As the market continues to grow, we can expect more lending platforms to emerge, offering a range of services to cater to the diverse needs of NFT investors.
In conclusion, the recent surge in NFT lending activities is an indication of the growing interest in this emerging market. The availability of NFT lending platforms has provided investors with a new way to unlock liquidity while still retaining ownership of their NFT assets. BendDAO, NFTfi, X2Y2, and Ardace are among the leading platforms in the market, each with unique features and services to cater to the diverse needs of NFT investors.
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