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
🚨 SECURITY 🚨
Recently, we've seen a lot of well known collections and influencers getting their Twitter or Discord accounts hacked.
Please stay vigilant and do not blindly ape into any mint/link posted. Even those by verified accounts.
Always better to be safe than sorry
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