What is NFTfi?

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Launched in the middle of last year, NFTfi is a peer-to-peer NFT mortgage lending marketplace that allows NFT asset holders to use their NFT as collateral to borrow assets and lend to others. NFTfi stated that the reason for launching NFTfi is that compared with fiat assets, equity and other types of assets, the art and collectibles market is very illiquid, especially for NFT assets. NFTfi products will provide a large amount of liquidity and lending functions for NFT assets to meet the diverse financial needs of users.

The founder and CEO of NFTfi, Stephen Young, is a smart contract developer and designer in the blockchain industry, and previously served as chief product officer at Coindirect, a peer-to-peer encryption trading platform. At the end of last month, NFTfi announced the completion of $890,000 in financing, among which individual investors include CryptoKitties and Roham Gharegozlou, CEO of Dapper Labs, the NBA Top Shot development team. Other investors include Coinfund, 1KX, Collab+Currency, Maven 11, The LAO and strategic investor Animoca Brands.

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How does NFTfi work?

Specifically, borrowers can mortgage any ERC-721 token (NFT asset), and other users can provide loans on demand. If the borrower accepts the loan, he will receive the lender's wETH and DAI. At the same time, the NFT asset will be locked into the NFTfi smart contract until the borrower repays the loan. If the borrower does not repay the loan by the due date, the NFT asset will be transferred to the lender.

How does NFTfi work?

NFTfi will not charge the borrower any fees, the borrower only pays the lender a fee (interest), and the fee charged by NFTfi is only 5% of the interest that the lender earns after successfully completing the transaction. NFTfi also previously stated that it will further reduce fees in the future as transaction volume and user numbers increase.

What should I pay attention to when using NFTfi?

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What should I pay attention to when using NFTfi?

For both borrowers and lenders, there are certain risks in using the NFTfi platform to borrow money. From the perspective of the lender, in the case of the borrower's default, only the mortgaged NFT assets can be received, which requires the lender to set a loan amount lower than the value of the NFT asset in advance, and the asset value of the NFT requires the lender Careful assessment.

NFTfi's ability to meet user lending needs and provide liquidity and core functions for NFT assets is expected to push NFT into an inflection point of development while empowering digital collectibles.

What is NFTX?

What is NFTX?

NFTX is a platform that uses NFT as collateral to create ERC-20 tokens for trading, and is launched on Ethereum. These tokens are called Funds, and (like all ERC-20s) they are fungible and composable, with NFTX, users can base their funds on CryptoPunk, Axies, CryptoKitties and Avastars directly from DEXs such as Uniswap collectibles to create and trade funds. The purpose of NFTX is to promote better circulation of NFT artworks and make it easier for users to capture the value of popular NFT artwork portfolios. NFT collectors are happy to search and trade individual NFT works, but most users do not have the time to engage in professional investment and do not have the professional knowledge of NFT. Those ordinary users who want to participate in NFT investment more easily are the target user group of NFTX.

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NFTX fund classification

D1 is the base fund. The ERC-20 tokens and NFT collateral assets are minted 1:1. For example, if a user has five NFTX basic CryptoPunk fund tokens (token code: PUNK- BASIC ), they can exchange these five PUNK-BASIC tokens for any five primary CryptoPunk NFTs at any time. There is an AXIE-MYSTIC-2 token that holders can redeem at any time for an Axie sprite with two magic items.

D2 is a compound fund. Tokens in D2 are composed of underlying fund tokens in D1. For example, D2's PUNK fund can be composed of five different D1 CryptoPunks (PUNK-BASIC, PUNK-FEMALE, PUNK-ZOMBIE, PUNK-ATTR-4, PUNK-ATTR-5). D2 trading pairs set up a fund pool on Balancer.

NFTX Token

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List of important information about NFTX

NFTX Team and Governance

NFTX was developed by Alex Gausman (aka gaus.eth), a well-known developer of Ethereum, and is fully governed by the NFTX DAO community. All community-raised assets are NFTX "vault" assets, managed by $NFTX token owners.

What is Gamefi?

The word Gamefi is Yearn.finance founder Andre Cronje's personal summary and judgment on the development of the industry. Blockchain games have always been an indispensable part of the entire industry landscape, and the trend of blockchain projects leaning towards gamification has been around for a long time. The term Gamefi can be understood as both gamification and NFT-integrated games The project, or Game + DeFi, refers to presenting financial products in the form of games, and gamifying the rules of DeFi, such as using NFT equipment to increase revenue, introducing a battle mode, etc. Compared with traditional liquidity mining, the GameFi project and users It is more interactive and more interesting.

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Gamefi representative project

Alpaca City (City of Alpaca) - When people who are familiar with NFT see the City of Alpaca, they must think of the encrypted cat that blocked the entire Ethereum network by itself a few years ago. Regardless of the style of painting or the basic gameplay, you can see a lot of CryptoKitties from Alpaca City. However, this project can stand out because it further expands the gameplay on the basis of CryptoKitties.

There are two modes of mining in Alpaca City. Large investors often choose to pledge a large amount of ALPA/ETH LP and add a miner alpaca with high energy value to mine ALPA tokens; retail investors choose the alpaca tribe more, pledge alpaca NFT, and mine through the comprehensive ratio of its energy value ALPA token. It can be said that both large and retail investors can compete with similar players, and each type of player can obtain benefits.

In addition to mining, players can also study the traits and genes of alpacas and breed two alpacas. Newborn alpacas with high energy value and low algebra can often be sold at high prices in OpenSea.

In addition to selling SLP, players can also use SLP to allow two Axies to breed offspring, and sell offspring to obtain income. Like Alpaca City, players also need to take Axie's genes into account when breeding Axie to make the offspring Axie more competitive.

After this game was launched on Binance Launchpad, it once occupied the first place in all DApp data and was far ahead. Other projects are hard to come by. The design, style, and concept of the game have always been talked about.

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GameFi can be regarded as a further development of the NFTfi that appeared not long ago. Initially, MEME and DEGO combined liquidity mining with NFT, and now a large number of projects closely link liquidity mining and blockchain games. In the near future, GameFi will Get more people's attention.

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