Crypto Lender Nexo introduces NFT Lending Desk, loans up to 20% for popular NFTS -

On December 16, the blockchain-based loan platform Nexo announced that the company introduced a non-fungable token (NFT) Lending Desk. While the company offered crypto-covered loans with tokens such as Bitcoin and Ethereum for immediate funds, Nexo offers NFT owners who do not want to sell their NFTs instant liquidity.

nexo offers loans for bored ape and cryptopunks nft security

NFTS have become a big thing in 2021 and a billion dollar industry almost overnight. Popular collections such as the Bored Ape Yacht Club (BayC), Cryptopunks and Measpin were sold for hundreds of thousands and even millions of dollars per NFT. This week the blockchain-based loan platform nexo has uncovered

On the company's blog, Nexo explains that NFT owners can "receive immediate liquidity without having to sell their valuable NFTs". The NFTS company from two collections is currently accepting Bored Ape Yacht Club and Cryptopunks. According to Nexo, further collections for the list of accepted NFTs are to be added in the future. With regard to credit surveys, nexo customers can withdraw stable coins, Ethereum (eth) , and other digital assets.

"Borrow up to 20 % of the value of your BayC or Cryptopunks without selling them," says Nexo. "No credit check [and] Fast loans without annoying credit tests and inquiries", according to the lender Notes . Nexo says that the NFT credit process will be a "white-glove service" and "there is no liquidations before due date, even if the value of your NFT fluctuates during the term of the loan, they will not be liquidated".

Since the NFT loan switch will be an out-of-the-counter (OTC) service, credit applicants must fill out a special form. Essentially, an NFT owner would apply, fill out a form with its specific NFTS ID number and then wait for a Nexo representative to contact him.

"Our NFT Lending desk and art financing functions are only the beginning of Nexos NFT and Metafi trips, with more investment grade products, an accessible, safe and profitable commitment in the NFT market that will soon be in our product suite," announces Nexo. closes.

What do you think that Nexo introduces an NFT lending desk that is devoted to the provision of liquidity for BayC and Cryptopunks NFT owners? Let us know your opinion on this topic in the comments below.

Jamie Redman

Jamie Redman is News Lead at Bitcoin.com News and a Finanztech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 4,900 articles for Bitcoin.com news about the disruptive protocols that arise today.

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