Nord Finance Launches Nord NFT Loans - A P2P NFT Collateralized Lending and Borrowing Product will Unleash the Liquidity Residing in NFTs
Bangalore, India--(Newsfile Corp. - January 10, 2022) - Nord Finance launches Nord NFT Loans, a P2P NFT collateralized lending and borrowing product on their DeFi platform.
Artists make the world a beautiful and enjoyable place with their creativity. Due to the flawed nature of internet 2.0, artists are unable to get a hold of their digital art and are often not rewarded for their creations. Web 3.0 has opened up the door for every artist to claim their digital creation and monetize it using NFT. Now, Artists can create their art and put it on the best Web 3.0 platforms and get attention from art buyers across the globe. Both Experienced and Novice artists are getting an equal opportunity to achieve their financial goals with their digital creation.
NFT holders' wealth is tied up to their NFT assets. If they find a new buying opportunity for NFTs or Crypto assets then they need to sell their NFTs in bad market conditions or at a discount to grab the new opportunity. The majority of NFT investors would like to hold their assets for a long time and let them appreciate. NFT holders can benefit greatly if they can collateralize NFTs like real assets to get credit to be utilized for investment, personal, or business purposes.
Nord Finance has launched a new product for artists and art collectors to monetize their NFTs using the Nord NFT Loans. Nord NFT Loans is a P2P Lending and Borrowing product to help artists and art collectors receive money against their pledged NFT. In addition, Nord NFT Loans is a place for investors to earn attractive interest by lending the NFT collateralized money to another individual.
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Borrow on Nord NFT Loans:
NFTs owners can pledge their NFTs as collateral and get a loan against them. They can use the money for their personal and business needs.
If they decide to borrow money against their NFT, their NFT will be locked in a Smart Contract, and they will get credits in their account.
Lend on Nord NFT Loans:
Lenders can give money to the NFT holders and earn decent interest against the given credit.
If they decide to lend the money against NFT, NFT will be locked in a Smart Contract, and their account gets debited to transfer credits to the borrower's account. If the borrower is unable to repay in a mutually decided timeframe the NFT will be transferred to the lender's account. The underlying pledged asset can help lenders cover their money against any unseen default event.
"We believe the increasing interest of NFTs among individuals, Artists and Art collectors, influencers, celebrities, brands and HNI will only propel the growth of the NFT industry in coming years. We're at the forefront of the NFT industry's growth with Nord NFT Loans. We will facilitate P2P NFT collateralized Loans to help NFT holders to utilize NFTs like real assets".
Co-Founder and CEO Amarnath Reddy
According to the latest report from the Financial Times, the NFT market reached $40 billion in 2021. The NFT adoption will only increase in the upcoming years with more acceptance. Nord Finance is eyeing at rapidly growing NFT industry with the Nord NFT Loans.
About Nord Finance
Nord Finance is an advanced decentralized financial ecosystem designed to simplify Defi investing by bringing key features of traditional finance to the DeFi ecosystem.
Nord Finance is built on Ethereum Network. Multichain interoperability of Nord Finance powers a plethora of financial primitives, which constitute savings, advisory, loans against crypto assets, Investment and Fund management.
Nord Finance is creating innovative ways for everyone to generate wealth with Blockchain Technology.
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