💰 Facilitating NFT Loans
Astaria - offering NFT lending services
Today's Highlights
- Astaria - loans for NFTs
- Today's Infographic
- In Other News - a few interesting developments we're tracking.
Astaria - loans for NFTs
Astaria is a platform that facilitates non-fungible token (NFT) loans. It allows users to put NFTs as collateral, giving them instant liquidity. The recent dip in NFT sales followed by signals of a bear market makes Astaria’s services attractive for NFT owners looking to earn passive income on their digital assets. By putting their NFTs as collateral, users can take out loans in the form of ether (ETH). The platform plans to integrate more chains other than Ethereum, effectively allowing users to take out loans in other cryptocurrencies.
Astaria is not the first company to offer NFT lending services. NFT and Arcade are among the first to serve the NFT lending market. Astaria has distinguished itself by not requiring two-way approvals, making transactions on the platform more efficient.
There are four models of NFT lending, namely (1) peer-to-peer NFT lending, (2) peer-to-protocol NFT lending, (3) non-fungible debt positions, and (4) NFT rentals. In peer-to-peer NFT lending, the most popular form of NFT lending, upon listing NFTs as collateral, users receive loan offers from others. After accepting the offer, the borrower will receive either wrapper ether (WETH) or DAI (a stablecoin) from the lending user’s wallet. The platform will then transfer the listed NFTs into a digital vault. The NFTs will be kept there for the duration of the loan.
Astaria has raised a total of $8M in funding. Justin Bram and Joseph Delong are the co-founders of Astaria.
🧐 Today's Infographic
In Other News
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