NFTfi, a non-fungible token (NFT) lending protocol, raised $6 million in its newest Sequence A1 funding spherical led by Placeholder VC.
Different collaborating traders included Maven 11, Launch Labs Inc, Kahuna Ventures, Brevan Howard, The LAO, Reciprocal, a_capital Ventures, Hash, Bloccelerate, Cypher Capital and Longhash Ventures.
The challenge famous that this newest funding elevated the whole capital raised to $15 million. It had beforehand raised $5 million in a collection A spherical in 2021.
The group intends to make use of the newly acquired funds to enhance its dApp by introducing help for handbook peer-to-peer loans and to broaden its SDK’s options, aiming to reinforce liquidity on the platform. Moreover, it goals to develop an open settlement layer devoted to NFT finance, as talked about within the challenge’s assertion.
NFTfi has facilitated $534 million in complete mortgage quantity since its launch in 2020, with lenders on the platform incomes over $15 million in curiosity, the group stated.
NFTs used on the platform as collateral embrace CryptoPunks, Bored Ape Yacht Membership, Mutant Ape Yacht Membership, Artwork Blocks, Autoglyphs, Doodles, Pudgy Penguins, Azuki, Clone X, and Otherdeed.
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