NFTfi

Purpose and Utility

NFTfi is a decentralized protocol that enables NFT-collateralized loans, allowing users to use their NFTs as collateral to borrow cryptocurrency. The platform's native token NFTFI serves as a governance token, giving holders voting rights on protocol decisions and parameters.

Business Model

The protocol facilitates lending and borrowing activities where lenders provide cryptocurrency loans to borrowers who put up their NFTs as collateral. If the borrower defaults, the lender receives the NFT. The protocol generates revenue through fees on loan origination.

Real-World Adoption

The platform has facilitated significant loan volume in the NFT lending space, with active usage among NFT holders seeking liquidity without selling their assets.

Platform Development

The project maintains active development, with regular updates to the protocol and implementation of community governance decisions.

Token Distribution

The token distribution includes allocations to team members, early investors, and the community treasury, with vesting schedules in place for team and investor allocations.