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NFT Finance Part 1: Demand is exploding for loans backed by NFTs

NFTs • March 16, 2022, 2:12PM EDT
UPDATED: March 17, 2022, 8:57AM EDT
The Block

Quick Take

  • NFTs are being used as collateral for high-risk, high-reward loans of all sizes.
  • The founders of two NFT lending marketplaces shed light on this rapidly growing market.
  • This is the first article in a three-part series focused on the financial applications of NFTs.
NFT lending lets traders take out loans putting up their NFTs as collateral. And it’s actually taking off.
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