Current State of NFT Lending

Non-fungibility succinctly encapsulates the essence of NFTs’ revolutionary value proposition. Therefore, the ability to verify ownership of prized possessions in the digital realm has catalyzed eye-popping growth for NFTs, which have penetrated many industries with a vengeance. 

However, this redeeming quality cuts both ways as it also profoundly hampers access to instant liquidity, thus turning this advantage into a nuisance. Despite the fact that NFTs have been confronted with this fundamental impasse since their early days, the confluence between DeFi and NFTs has opened up new avenues for tackling this illiquidity crisis.