DeFi lender Teller launches ‘buy now pay later’ feature for Bored Apes and other NFT projects

Quick Take

  • Users can put a down payment on select NFTs through Teller Finance’s new ‘buy now pay later’ feature.
  • Projects supported with this feature include Bored Ape Yacht Club, Mutant Ape Yacht Club, Moonbirds, Doodles, Cool Cats, Azuki and Meebits.

Teller Finance, a decentralized finance (DeFi) lending platform, has launched a new feature allowing a ‘buy now pay later’ (BNLP) for non-fungible tokens, according to a report from Decrypt

As of right now, the NFT projects Teller supports are Bored Ape Yacht Club, Mutant Ape Yacht Club, Moonbirds, Doodles, Cool Cats, Azuki, Meebits, Adidas Originals: Into the Metaverse, and RTFKT-MNLTH and Murakami.Flowers Seed.

Teller’s NFT BNLP service is called “Ape Now, Pay Later” and is built on the Polygon network.

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Teller Finance itches the same impulse that other firms such as Fractional have done in the past: letting users pay for expensive NFTs without forking over the thousand-dollar list price upfront. Unlike Fractional, which ‘fractionalized’ NFTs into smaller and more affordable parts that multiple people can own, Teller Finance permits one individual to pay a down payment on an NFT and pay the rest of the cost later. 

BNLP allows users to own an item while only paying a portion of the total cost upfront. The buyer then pays for the item in its entirety over time — often with interest, as is the case with BNLP platform Klarna


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.