- NFTfi, a pioneering NFT lending protocol, has successfully secured $6 million in its latest funding round, led by Placeholder VC.
- With a total loan volume of $534 million to date, the platform continues to play a significant role in the NFT finance ecosystem.
NFTfi, a prominent non-fungible token (NFT) lending protocol, has successfully raised $6 million in its latest funding round, Series A1. Led by Placeholder VC, the funding round saw participation from various investors, including Maven 11, Launch Labs Inc, Kahuna Ventures, and others.
The total capital raised by NFTfi has now reached $15 million, following a previous series A round that garnered $5 million in 2021. With this infusion of funds, NFTfi aims to fortify its decentralized application (dApp) by incorporating support for manual peer-to-peer loans, enhancing its Software Development Kit (SDK), and introducing an open settlement layer dedicated to NFT finance.
Enhancing Platform Features:
The primary focus of utilizing the newly acquired funds is to elevate the user experience on NFTfi’s platform. By introducing manual peer-to-peer loans, the protocol aims to offer more flexibility to its users.
Simultaneously, the expansion of the SDK’s features is set to improve the overall liquidity of the platform, providing a seamless and efficient environment for NFT lending. The team is committed to refining the dApp to cater to evolving user needs and market demands.
Development of Open Settlement Layer:
NFTfi’s strategic vision includes the development of an open settlement layer exclusively dedicated to NFT finance. This innovative approach is poised to bring about advancements in the NFT lending landscape, providing a secure and transparent settlement infrastructure.
The project’s statement emphasizes the commitment to fostering the growth of NFT finance by establishing a dedicated settlement layer, showcasing a forward-looking approach to the evolving dynamics of the NFT market.
Impressive Loan Volume and Returns:
Since its inception in 2020, NFTfi has facilitated an impressive total loan volume of $534 million. The platform stands out by supporting a diverse range of NFTs as collateral, including popular collections like CryptoPunks, Bored Ape Yacht Club, Art Blocks, and others.
Lenders on the platform have earned over $15 million in interest, indicating a robust demand for NFT-backed loans and a lucrative opportunity for participants in the NFTfi ecosystem.
With the successful completion of the Series A1 funding round, NFTfi is poised to reinforce its position as a leading NFT lending protocol. The strategic allocation of funds towards platform enhancements and the development of a dedicated settlement layer aligns with the project’s commitment to fostering innovation within the NFT finance space.
As NFTfi continues to play a pivotal role in the evolving landscape of NFT-backed lending, the recent funding round marks a significant milestone in its journey towards providing cutting-edge solutions for the NFT community.
NFT Lending Pioneer NFTfi Raises $6 Million in Series A1 Funding to Advance Decentralized Finance for NFTs
NFTfi, a pioneering NFT lending protocol, has successfully secured $6 million in its Series A1 funding round, with Placeholder VC leading the investment. This funding round has elevated the total capital raised by NFTfi to $15 million, with a strategic focus on advancing its decentralized application (dApp).
The platform, which has facilitated a substantial total loan volume of $534 million since its inception in 2020, plans to utilize the fresh funds to introduce support for manual peer-to-peer loans, enhance its SDK features, and develop a dedicated open settlement layer for NFT finance. With notable investors such as Maven 11, Launch Labs Inc, and Brevan Howard participating, NFTfi aims to further bolster liquidity, foster innovation, and contribute to the evolving landscape of decentralized finance within the NFT market.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
