How to Turn Your NFT Into a Loan

How to Turn Your NFT Into a Loan

“You pick an NFT from your inventory and you input the [loan] parameters you’re looking for. You might say, I have an NFT. I think it’s worth $5,000. I want to borrow $2,000 against it, and I’m willing to pay 3% over a 30 day period. And if [a lender is] comfortable with the offer, they are free to fund that loan. Then lenders either get the loan paid back or they get the collateral [NFT], and the counterparty can’t do anything hostile. It’s all trustless and decentralized.”

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