Nexo lending platform and venture capital firm Three Arrows launch NFT loans

Cryptocurrency lending and trading platform Nexo announced yesterday (16) that it has entered into a joint venture with venture capital firm San Arrow Capital to develop NFT loans and financial services. Currently, only two types of NFT projects are available for loan: Boring Ape and CryptoPunks, which will continue into the future.

Nexo NFT loan function

The financial services provided by NEXO are business marketing services. To use these services, you must first log into a legitimate website and submit a request to verify that you have real NFTs. After verification, the platform will assign a special account manager to provide the service.

NFT Interest and risky loans

You can get more benefits after borrowing NFTs from Nexo.

Operations: Currently only two positions are accepted: BAYC and CryptoPunks, more loan positions will be announced next week.

Rewards: You can withdraw lots of fixed money and digital perks like ETH.

Interest Rates: Loan rates range from 12% to 15%, depending on the market and the cost of DTV.

Loan Limit: You can borrow 10-20% of the NFT rate, and the NFT will be repaid shortly after repayment.

Additionally, loans can be made without a credit check, and although the cost of DFTs fluctuates quickly over the life of the loan, they are not deductible. It can be said that it offers very high loan exchange rates.

Funding for art in Web3 World

In fact, financial art has been around for a long time in the traditional financial arena, and now Nexo has brought it into the arena of NFT, which has resulted in the availability of NFT. However, as the market price and market volume of NFTs change a lot, it is still necessary to identify whether it can be used as an asset. It looks like Nexo's service is still in its infancy and upgrading as Nexo only has two NFT scores for its services and the loan price is very low, so we can see that it will change to the future. The future is worth waiting for.