Crypto Lender Nexo Launches NFT Lending Desk, Loans Up To 20% For Popular NFTs – Bitcoin News


On December 16, blockchain-based lending platform Nexo announced that the company had launched a non-fungible token (NFT) lending office. While the company offered cryptocurrency backed loans using tokens such as bitcoin and ethereum for instant funds, Nexo offers instant liquidity to NFT holders who do not wish to sell their NFTs.

Nexo to offer loans for Bored Ape and Cryptopunks NFT Garantie

NFTs became a big deal in 2021 and a billion dollar industry almost overnight. Popular collections like the Bored Ape Yacht Club (BAYC), Cryptopunks, and Meebits have sold for hundreds of thousands and even millions of dollars through NFT. This week, the blockchain-based lending platform Nexo at revealed a loan office dedicated to providing liquidity to NFT owners who use their NFTs as collateral.

Crypto Lender Nexo Launches NFT Loan Desk, Loans Up To 20% For Popular NFTs

On the company’s blog, Nexo explains that NFT owners can get “instant cash without having to sell your precious NFTs.” At present, the company accepts NFTs from two collections Bored Ape Yacht Club and Cryptopunks. Going forward, Nexo says more collections will be added to the list of accepted NFTs. In terms of credit withdrawals, Nexo customers can withdraw stablecoins, ethereum (ETH), and other digital assets.

“Borrow up to 20% of the value of your BAYC or Cryptopunks without selling them,” explains Nexo. “No credit check [and] fast loan approval without the hassle of credit scores and inquiries, ”the lender Remarks. Nexo says that the NFT loan process will be a “white glove service” and that there is “no liquidation before maturity, even if the value of your NFT fluctuates during the loan, you will not be liquidated. “.

Seeing how the NFT loan office will be an over-the-counter (OTC) service, loan seekers need to complete a specialized form. Essentially, an NFT owner would make a request, fill out a form with their specific NFT ID number, and then wait for a Nexo representative to contact them.

“Our NFT loan office and art finance features are just the start of Nexo’s NFT and metafi adventure, with more investment grade products, accessible, secure and high yield exposure to the NFT market. which will soon arrive in our suite of products ”, Nexo announces concludes.

Tags in this story

BAYC, Blockchain Lender, Bored Ape Yacht Club (BAYC), Cryptopunks, Liquidity, Loan for NFT, Loans, Maturity, Nexo, Nexo Loan, Nexo Service, nft, NFT Backed Loans, NFT Loan, NFT Loan Office, Loans NFT, NFT, Non-fungible token, OTC

What do you think of Nexo’s launch of an NFT loan office dedicated to providing liquidity to holders of BAYC and NFT Cryptopunks? Let us know what you think of this topic in the comments section below.

Jamie redman

Jamie Redman is Head of News at News and a FinTech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code, and decentralized applications. As of September 2015, Redman has written over 4,900 articles for News on the disruptive protocols emerging today.

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