These days, we do a lot with our digital assets. Trading, locking and everything in between. But one way to take advantage of assets that are rapidly gaining popularity in the industry is borrowing against fiat and cryptocurrencies.
That’s right, if you have an NFT or other digital asset lying around, you may not need to sell it if you need cash. Instead, you can visit one of the many NFT borrowing and lending platforms to get a loan with your assets as collateral. This is obviously very convenient for NFT holders but what are the best options on the market mosquito?
With all the different platforms that promise money on your NFTs, which offers the best deals?
One of the best things about NFTuloan is that it accepts almost any type of NFT. Art, collectibles, domain names, music, photography, sports, trading cards, utilities, and even virtual worlds.
The process for this site on the Ethereum testnet is very quick and easy. Connect your NFT wallet, get a quote for your chosen asset, state your loan term and apply.
In terms of loan duration, NFTuloan allows users to make loans from 1 hour to 30 days. This means you can take advantage of the market for the long term or the short term. NFTuloan not only ensures asset liquidity, but also allows staking up to 30% of his APR in ETH tokens. This is one of the highest APRs on the market and users can benefit in multiple ways. The company also recently announced that it will be live on the mainnet within the next two weeks.
Unlike other products on the market, NFTfi works more like a p2p marketplace than a direct lending provider. For those who want to rent or borrow NFTs, there is an option to search the listings.
For example, NFT holders can list their assets and receive loan offers from interested parties. If you choose to accept one of the offers, you will receive liquidity in wETH or DAI in your wallet, with NFTs locked in an escrow smart contract.
If the loan is repaid by the set time, Lister will get the item back. If the loan is not repaid, the lender can own the property.
If you’re looking to rent out your NFTs, you can take advantage of listed assets from top collections such as Bored Ape Yacht Club and CryptoPunks. Some users of this site are also known to offer loan-to-ownership services that provide access to his NFTs of choice.
Arcade.xyz’s business model is based on giving users the best of both worlds in terms of getting offers on NFTs. Built on the prawn protocol, a user can upload his assets to his Dapp and open a loan request. From there, stakeholders can fund these requests or create their own offers.
Amazingly, Arcade.xyz allows users to upload multiple NFTs and wrap data in a single loan transaction. If a user does not want to go through the process of opening a loan request and processing various offers, consult her OTC desk at Arcade to resolve any issues that may arise during the custom evaluation and loan process. can do.
Ultimately, what Arcade.xyz offers is giving users flexibility in terms of being able to process offers from other users or get custom ratings from the site itself. Other users can make offers on loan requests, thus allowing loans to be completed in a variety of cryptos.
These days, you don’t have to leave your crypto assets unattended in your wallet. The abundance of options in the market means that you can gain liquidity in your assets in any number of ways.
However, not all NFT loan and liquidity platforms are created equal, and some offer greater flexibility and benefits than others. There are plenty of platforms on the market, but above are some of the best ones to choose from.
https://blockonomi.com/nft-liquidity/ Need liquidity from NFTs? Here are the top options for 2022