Stephen young is the co founder of nifty fi, an nft lending platform that lets people borrow against their nft. Since 20 20 55 has underwritten more than five thousand loans and recorded more than 80 million in accumulative loan volumes. We're dely going to dive into just how he achieved that growth.
The total market-cap of NFT has hit $18 billion in 2022 - but most of these value are illiquid and NFTs sit idly in wallets.
NFTFi (@NFTfi) unlocks the liquidity of these NFTs by allowing owners to take NFT-collateralized loans. Till date, they have facilitated $128 million over 7000 loans.
In this episode, NFTFi co-founder, Steven Young shares with us:
- Why is unlocking NFT liquidity necessary and how can it help floor prices?
- What are the risks involved for lenders and borrowers?
- Why is NFTFi’s peer-to-peer model the most optimal for NFT-backed loans?
Host: Jason Choi @mrjasonchoi . Not financial advice.
------------ Timestamps -------------
(00:00:00) – Introduction (00:00:27) – Background of NFTfi’s Founders (00:04:17) – Beginning of NFTfi (00:06:53) – Projects eligible as collateral (00:08:15) – Different loan durations and common use-cases (00:14:30) – Liquidation on Loans (00:19:21) – NFTfi as an execution platform for Liquidity Provision DAOs (00:21:20) – Whitelisting criteria of NFT projects (00:24:50) – NFTfi’s competitors and different models (00:32:14) – Types of lenders and borrowers (00:36:27) – Future of NFTfi
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----------- More Resources --------- Guest Stephen Young's Twitter: https://twitter.com/stephen_yo?lang=en NFTFi's Website: https://www.nftfi.com/ NFTFi's Discord: https://t.co/O9hrCgWiL7
BlockcrunchBlockcrunch Twitter: https://twitter.com/theBlockcrunch Jason Choi’s Twitter: https://twitter.com/mrjasonchoi Substack: https://jasonchoi.substack.com/
------------ Disclosures -------------
Disclaimer: Jason Choi is a General Partner at Spartan Capital, a subsidiary of The Spartan Group. All opinions expressed by Jason and podcast guests are solely their own opinions and do not reflect the opinion of The Spartan Group and any of its subsidiaries
