NFT Lending and Borrowing growing steadily: Dune Analytics report
NFTs have grown to become a billion dollar market, but it’s not just limited to digital collectibles. It has also become popular as a lending option for NFT owners who are using their NFTs as a collateral for getting loans. Dune Analytics has revealed several projects that have facilitated NFT lending and borrowing in the last 12 months. NFTs are collateralized with loans for accessing liquidity. A marketplace for NFT loans, NFTfi alone enabled lending of $25.6 million in NFT loans so far, and recorded lending of $50 million in NFT loans last month.
Dune Analytics further revealed following statistics about the lending and borrowing in NFTs:
– NFTfi facilitated $185.4 million of NFTs in cumulative loan volume since the origin of the market. NFTfi also partners with the blockchain firms Flow and Animoca Brands.
+ In the last week of May itself, the NFT market recorded 4 loans for more than $100K each.
– Bored Ape Yacht Club which is a collection of 10000 unique NFTs (BAYC) 7,813 was used for a $100K loan on NFTfi platform.
– Autoglyph 231, NFTs on OpenSea was utilized for a $200K loan on May 12.
– BAYC 6,276 was used as collateral for a loan of $150K on May 10, and the BAYC 371 NFT helped to borrow a loan of $115K. 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, and Drops and Flowty.
– Drops NFT loan market that offers instant loans for JPEG, Metaverse and NFTs facilitated $6,746,515 in lending.
– Arcade, a decentralized platform providing cross-metaverse asset interoperability, raised $17.8 million from investors like Pantera Capital, Franklin Templeton Investments, and Protofund.
– The 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 total in April 2022.
NFTfi has a wide variety of NFTs and many blue-chip digital collectible collections as well which include Unstoppable Domains, Axies, Doodles, Sandbox land, Otherdeeds, Hashmasks, Bored Ape Yacht Club, and Mutant Ape Yacht Club (MAYC).
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Dune Analytics further revealed following statistics about the lending and borrowing in NFTs:
– NFTfi facilitated $185.4 million of NFTs in cumulative loan volume since the origin of the market. NFTfi also partners with the blockchain firms Flow and Animoca Brands.
+ In the last week of May itself, the NFT market recorded 4 loans for more than $100K each.
– Bored Ape Yacht Club which is a collection of 10000 unique NFTs (BAYC) 7,813 was used for a $100K loan on NFTfi platform.
– Autoglyph 231, NFTs on OpenSea was utilized for a $200K loan on May 12.
– BAYC 6,276 was used as collateral for a loan of $150K on May 10, and the BAYC 371 NFT helped to borrow a loan of $115K. 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, and Drops and Flowty.
– Drops NFT loan market that offers instant loans for JPEG, Metaverse and NFTs facilitated $6,746,515 in lending.
– Arcade, a decentralized platform providing cross-metaverse asset interoperability, raised $17.8 million from investors like Pantera Capital, Franklin Templeton Investments, and Protofund.
– The 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 total in April 2022.
NFTfi has a wide variety of NFTs and many blue-chip digital collectible collections as well which include Unstoppable Domains, Axies, Doodles, Sandbox land, Otherdeeds, Hashmasks, Bored Ape Yacht Club, and Mutant Ape Yacht Club (MAYC).
For the latest crypto news and investment tips, follow our Cryptocurrency page.
