NFT continues to be a popular trend.
NFTs are becoming increasingly popular in the crypto industry. There are many crypto projects that have turned to NFT, such as the creation of the GameFi NFT project, which is a playable game for digital assets.
Nowadays NFT trading is also increasing. NFT has been popular for a long time since 2021 until 2023, it still hasn’t disappeared anywhere. informationAccording to dune.com, over $38.3B of NFT volume has been traded in the market.
NFT can be bought as collectibles. Used to trade in the NFT trading market and can also bring NFT to benefit in trading as well. Currently, NFTs are used for trading or borrowing. which in this case is called NFTfi.
NFTfi was created to solve the problem of liquidity NFT traders who do not want to sell their NFT but want to use it for other purposes, such as collateral for ETH loans.
Currently, there is a lack of a platform in the crypto world where NFT can be used for other financial applications. The Pine Protocol project has seen this gap and has created. A dedicated Lending platform for NFTs.
Get to know Pine Protocol
Reference frompost The PINE Protocol project’s Medium is an NFTfi project that includes a protocol to facilitate NFT lending with backed-up assets, allowing users to borrow their own NFTs. Ripto like Ethereum
The Pine Protocol platform was created to provide NFT users with liquidity without having to sell their own NFTs, allowing clients to receive yields from other DeFi protocols, and lenders receive APY. go
The NFTfi platform looks very similar to DeFi and is designed around the concept. non-custodial That is, the project does not hold any of the client’s assets.
Pine Protocol allows users to create their own Lending Pool, unlike others, Pine Protocol also has many partners such as Sino Global Capital, AMBER, Spartan, Impossible Finance, Gate Ventures, Shima. Capital and many more
Now the total tokens of the project are 200,000,000 PINE, valued at 1 PINE = 0.2 BUSD.
The roadmap of the Pine Protocol project:
- Created a feature for users to use NFT for margin trading called “NFT Mortgage”.
- Auto Rollover Loan Option
- Use NFTs for loan agreements.
- Pine Wallet
If any readers are interested, you can read more details atpost Pine Protocol’s Medium