Luxury watch owners blended the NFT market with the real world, revealing a remarkable type of lending.
Cryptocurrency phenomenon cirrussocial media shared on July 10 in your post He drew attention to an innovation in the NFT market.
According to the statement of Cirrus, luxury watch owners delivered their watches to a brokerage firm and received NFT in return. Then, the NFTs in question are transferred to the NFT lending platform. arcade listed on it. The user who shows these NFTs as collateral, in return 30 thousand dollars received a loan. NFT’s 2-month debit vs. yearly interest rate is 12%, bimonthly interest rate is 2% was included.
Currently on Arcade 1 Patek Philippe And 3 Rolex including 4 hour NFT These watches all represent tangibly collateralized assets. If the only way to get those real clocks back is from burning NFTs passing.
If the debtor party your debt if he can’t pay hour NFT passes to the lender, and thus the real-life watch itself belongs to the lender.
Getting a loan or lending with NFT is frequently preferred by users recently. This feature, which can be considered new, is an important feature of the NFT market. utility seen as.
