фото показано с : nftnewstoday.com

Arcade.xyz, a decentralized finance (DeFi) protocol for NFT lending, has introduced a new feature that allows borrowers to use luxury watches as collateral for loans. This innovative approach expands the potential borrower pool and offers an anonymous and efficient lending experience.

The process begins with borrowers sending their luxury watches to 4K, an on-chain escrow protocol. In return, they receive an NFT representing ownership of the timepiece. These NFTs are then listed on Arcade.xyz, where lenders can make loan offers. Once a loan agreement is reached, the NFT is transferred to an escrow wallet.

The use of luxury watches as collateral opens up new opportunities for borrowers, as they can now access funds based on the value of their timepieces. The initial loans facilitated by Arcade.xyz involved three Rolex watches and a Patek Philippe watch, with loan amounts ranging from $14,500 to $35,000. The annual percentage rates (APRs) for these loans were between 12% and 15%.

Anonymity is a key feature of Arcade.xyz’s lending process. Borrowers and lenders can participate without disclosing their identities, creating a level of privacy and security that traditional lending institutions may not offer. This opens up possibilities for borrowers who prefer to keep their financial transactions discreet.

Gabe Frank, the CEO of Arcade.xyz, believes that this unique lending model can provide borrowers with better rates compared to traditional pawn shops. By leveraging the value of luxury watches through NFT collateralization, borrowers can access funds quickly and efficiently.

Arcade.xyz has already facilitated nearly $100 million worth of NFT-based loans, showcasing the growing popularity of this lending model in the crypto space. By incorporating physical luxury goods as collateral, the platform expands its range of accepted assets and provides borrowers with more options.

As the NFT lending market continues to evolve, Arcade.xyz is at the forefront of offering innovative solutions. The ability to use luxury watches as collateral for loans demonstrates the platform’s commitment to meeting the diverse needs of borrowers and lenders in the decentralized finance ecosystem.

In a world where digital assets are gaining traction, Arcade.xyz’s integration of physical luxury goods brings a unique blend of traditional and modern finance. This approach bridges the gap between the physical and digital worlds, providing an efficient and secure lending experience for participants.

With its successful track record and expanding range of collateral options, Arcade.xyz is poised to continue leading the way in NFT lending, empowering individuals to unlock the value of their assets and meet their financial goals.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

208 +