Non-Fungible Technologies, Inc. is pleased to announce that the company has raised $2.75 million in seed funding from strategic blockchain-focused VCs and angel investors to build the first decentralized marketplace for loans backed by high-value NFT collateral.
Pawn.fi enables liquidity on non-fungible tokens (NFTs) leveraging smart contracts and decentralized finance (DeFi). The protocol enables a trustless, peer-to-peer marketplace for securing a crypto loan backed by one or more ERC721 tokens - the NFT standard - as well as ERC20 and ERC1155 tokens.
"By taking one of the oldest forms of lending and bringing it to the blockchain, we're creating permissionless infrastructure to enable collateralization of any on-chain asset," said Pawn.fi CEO Gabe Frank, a third-generation pawn broker with deep experience in facilitating collateralized loans. "There's a lot of idle capital sitting in high-value NFT's today. Cryptopunks, digital art and land, domain names, historic internet memes and cultural moments - the Pawn.fi protocol offers the most secure way to unlock liquidity on these types of assets."
read more (pr news) / Pawn.fi
Pawn.fi enables liquidity on non-fungible tokens (NFTs) leveraging smart contracts and decentralized finance (DeFi). The protocol enables a trustless, peer-to-peer marketplace for securing a crypto loan backed by one or more ERC721 tokens - the NFT standard - as well as ERC20 and ERC1155 tokens.
"By taking one of the oldest forms of lending and bringing it to the blockchain, we're creating permissionless infrastructure to enable collateralization of any on-chain asset," said Pawn.fi CEO Gabe Frank, a third-generation pawn broker with deep experience in facilitating collateralized loans. "There's a lot of idle capital sitting in high-value NFT's today. Cryptopunks, digital art and land, domain names, historic internet memes and cultural moments - the Pawn.fi protocol offers the most secure way to unlock liquidity on these types of assets."
read more (pr news) / Pawn.fi
