Someone just took a $14,500 loan on two Rolexes at 12% APR from a complete stranger all on-chain
The Rolexes were sent to an escrow company who then sent back NFTs representing ownership of the watches
The borrower can then use those NFTs to tap into global liquidity rather than taking a predatory loan at their local pawn shop
If they default? The lender can use the NFTs to redeem the watches
One of the most obvious and easy to understand use cases of NFTs
Howdy ranchers and cowboys ! 🌵🤠
Getting ready for the testnet, we're releasing a short guide to explain the basic functionnalities of Ranch Finance.
We'll try multiple format for newcomers as well as more experienced users. Check out our blog below ⬇️⬇️
https://t.co/E2UzCPD43y
1/ Yesterday @Blur_io announced peer-to-peer, perpetual NFT lending along with a buy-now-pay-later product. Our thoughts on what this means for NFT lending and the larger NFT Finance ecosystem:
Today we're sharing our roadmap with you guys ! 🌞 🛤 We can't wait to unveil the winter work from the team👨🌾
Nature will soon bloom all over the ranch 🌻
#RanchFinance#BloomingYield#RanchFinance
Spring is back and so is Ranch Finance !⛅️🐦
We'll be glad to share our 2023 projections on monday next week🤠���
Stay tuned !🦬 #RanchFinance #NFTFinance
1/ In the future NFTs will represent all societal intangibles (and more) – tens of trillions of dollars of value.
But how will we get there? Short🧵on NFT financialization.
The best form of abacus is to provide pricing and liquidity (pricing and liquidity backup) for NFT, and then build NFTFi protocols such as lending on it. Abacus provides pricing and liquidity primitives.
1/ NFT finance is about to reach a new milestone... approaching 50k loans made against NFTs!
- Platform competition heating up
- User base is still concentrated
- Tail collections are underutilised
Exploring how the top borrowers are using lending protocols today 👇🏼
Shout out to @NFTfi I funded my first locked bundle! AWESOME JOB! GREAT tool. 5 small assets, 1 ETH loan. Manage 1 loan instead of 5. 80% less gas fees for client. LET’S BUILD! #NFT#NFTFam#DeFi
New loan started on Mutant Ape Yacht Club: #1517
Loan: 14 wETH
Repayment: 14.158411 wETH
Duration: 7 days
APR: 59%
https://t.co/zkXM9nibGG
#MutantApeYachtClub#MAYC