The NEXO Token is an asset-backed token and is backed by the underlying assets of Nexo’s loan portfolio. NEXO Tokens Holders will get 30% of the company’s profits. NEXO Tokens offer additional utility features such as discounted interest rates on the Nexo Instant Crypto-backed Loans and are also accepted as collateral on the Nexo Platform.
According to Nexo, the idea behind this service is to provide greater usability to the NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. within the new financial system, so it will accept works of art from Bored Ape Yacht Club y CryptoPunks to finance crypto loans to interested parties. *** The cryptocurrency-based financial services platform,Nexo, announced the launch of a new lending address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. linked toNFT en aliance withThree Arrows Capital.
Nexo enables loan service byNFT under warranty
This was reported by the company in a statement released today, which indicates that this is possible thanks to the direction ofNFT deThree Arrows Capital, which will allow the entity to offer credit backed by digital digital technologies are these electronic tools that have the ability to generate, store or even process data. collectibles, either to customers operating in its traditional trading line or viaOTC oTC, or ‘Over The Counter’ is trading that happens directly between two parties, with no exchanges or trading platforms involved. (Over the Counter). In this regard, the Nexo team indicated that in the first place it will be accepting works such asBored Ape Yacht Club y CryptoPunks, although other popular collections will be supported in the near future. To do so, interested parties will receive the equivalent in stablecoins or coins such asBitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. oEthereum. In this regard, the co-founder and manager ofNexo, Antoni Trenchev, comentó:
“Our partnership with Three Arrows Capital capital is most commonly defined as the large sum of money you would use to invest. is a definitive step towards providing financial instruments and native MetaFi on Web 3.0. As we continue to discover the reach of this asset class, services such as lending via Nexus will be in high demand to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. and increase the underlying value of NFTs…”.
Increased utility for NFTs
According toNexo, alliance withThree Arrows Capital will enable and expand new functionalities for its credit and financing services, all of this based on theNFT and considering enabling risk hedging, valuation and settlement mechanisms. As such, the director ofThree Arrows Capital, Kyle Davies, comentó:
“[We are] happy to partner with Nexo and demonstrate our commitment to the promise of NFTs non-fungible token, a unique non-interchangeable piece of digital content that is stored on a distributed ledger (blockchain). as a financial instrument, which requires appropriate and high quality financial tools in order to be fully leveraged.”
Vale destacar que la idea de aceptar préstamos por concepto de NFT’s as a guarantee already has some time in the market, so there are services that enable this possibility for their customers. One of the most noteworthy cases was that ofNftFi, which gained a lot of notoriety in early November precisely for facilitating a loan of USD $1.4 million (innone receiving as a guarantee the collectible #488 of the collectionAutoglyph.
- Unknown person received $1.4 million loan and pledged NFT as collateral collateral is any asset that a lender accepts as a form of security to ensure that the borrower repays a loan.
- NBA star Michael Jordan to launch new NFT’s platform a place to buy, sell and store cryptocurrency called HEIR
- Cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. lending company Nexo announces business alliance with Fidelity Digital Assets
Source:Cointelegraph Version by Angel Di Matteo /DiarioBitcoin Imagen deUnsplash