Explaining the NEXO NFT Lending Desk
Your precious NFTs can be converted into immediate liquidity without the need to sell them:
- Collections Accepted: In addition to the Bored Ape Yacht Club and CryptoPunks collections that they already accept, they will announce other collections over the coming weeks.
- Currencies Available: Your credit withdrawals can be made in ETH, a variety of stablecoins, and other digital currencies.
- Loan-to-Value Percentage: Without selling your BAYCs or CryptoPunks, borrow up to 20% of their value.
- Credit Checks Waived: Obtain your loan quickly without having to worry about your credit score or inquiries.
- No Liquidations: They will not liquidate you before your loan matures, so even if your NFT’s value changes during the loan, you won’t be liquidated.
- Dedicated Service: To make sure you fully utilize our new product, a dedicated account manager will be assigned to you.
#ApeFollowApe. Just #Aped in. #CryptoPunks. #BAYC. It’s an open sea of NFT genius out there, and as usual, Nexo is reining in the brilliance and presenting you with a brand new, structured, premier MetaFi service to best leverage the asset class: our NFT Lending Desk.
Next-generation Art Financing for Web 3.0
Art financing is a potent tool from traditional finance that Nexo has adapted for the blockchain space, and, more specifically, for NFTs. This feature comes in handy in cases where a client doesn’t already own an NFT but would like additional capital to acquire one. For clients who don’t have an NFT to put up as collateral, Nexo can create a bespoke service, wherein they provide the additional capital needed to buy the desired token, purchase it on the client’s behalf and immediately collateralize it to back the outstanding crypto credit.
Nexo tokens can also be used to finance your NFT purchases. You can buy or swap Nexo tokens on the Nexo website or you can purchase them on exchanges like Binance for example.
How to Get Started
Since the NFT Lending Desk is an OTC service, clients who wish to apply for NFT-backed loans will have to fill out the specialized contact form. Here’s how:
- Go to the NFT Lending page and click the “Apply Now” button.
- Fill out the form. Make sure you have your Bored Ape/CryptoPunk’s ID, you’ll need it to complete this step.
- Once you submit the form, a Nexo representative will contact you promptly.
Please, be aware that due to their team’s capacity, they will only respond to requests that include the requested information about the client’s ownership of an NFT from one of the supported collections.
What’s Next for Their NFT Lending Services
Nexo is the first crypto lender to offer NFT-backed crypto credit, and with it, creating a range of completely new financial tools for this emerging asset class. Their NFT Lending Desk and art financing functionalities are just the beginning of Nexo’s NFT and MetaFi journey, with more investment-grade products, accessible, secure and high-profit exposure to the NFT market coming to their product suite soon.