NFT lending and borrowing are steadily increasing: Dune Analytics report
Dune Analytics further revealed the following statistics on lending and borrowing in NFTs:
– NFTfi has facilitated $185.4 million of NFT in cumulative loan volume since inception. NFTfi is also partnering with blockchain companies Flow and Animoca Brands.
+ In the last week of May itself, the NFT market recorded 4 loans over $100,000 each.
– Bored Ape Yacht Club which is a collection of 10,000 unique NFTs (BAYC) 7,813 was used for a loan of $100,000 on the NFTfi platform.
– Autoglyph 231, NFTs on OpenSea was used for a $200,000 loan on May 12.
– BAYC 6,276 was used as collateral for a $150,000 loan on May 10, and BAYC 371 NFT helped borrow a $115,000 loan. So far this month, Nftfi has facilitated $25.6 million in NFT loans, according to statistics from Dune Analytics.
– Besides NFTfi, there are other lending platforms like Arcade, Nexo.io, Drops and Flowty.
– NFT Drops loan marketplace which offers instant loans for JPEG, Metaverse and NFT facilitated $6,746,515 in loans.
– Arcade, a decentralized platform providing interoperability of assets across metaverses, raised $17.8 million from investors including Pantera Capital, Franklin Templeton Investments and Protofund.
– Peer-to-peer NFT lending marketplace Flowty, built on the Flow blockchain network, raised $4.5 million in the company’s first investment round from two lead investors and 23 in total in April 2022.
NFTfi offers a wide variety of NFTs and many top-notch digital collectibles including Unstoppable Estates, Axes, Doodles, Sandbox Lands, Other Acts, Hashmasks, Bored Ape Yacht Club and the Mutant Ape Yacht Club (MAYC).
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