literally did this with my pfp back in July, back when it was only worth 6k. What I learned is that it’s “scary” getting a loan denominated in ETH. I suggest getting the loan denominated in DAI
There's also the fact that these loans don't *need* to be done in a decentralized, on-chain manner. We're talking about valuations that might benefit from "traditional art lender" territory here, and they may be more generous in terms of how they'll be valuing the Loan-To-Value terms on an ongoing basis.
Spectacular...Capital Efficiency...I live next door to an eccentric millionaire who proudly says he "used to be a derivatives trader" and he thinks NFTs are hocus and have no substance and no real use, meanwhile, as he lives off his rewards from peddling the very definition of hocus, he could be playing a role on both sides of this Capital Efficiency: either holding and borrowing against an NFT or lending on NFTs. I can only imagine the torrent of abuse I will get when I tell him he could be using his capital more efficiently!
@@TheDefiant ah i see. so the lender must really be careful to make sure they would be happy if the borrower defaulted by having their own valuation estimate of the NFT
The only person who will profit from this is the lender if the loan is paid back; this is stupid. You're getting yourself in debt for a charge, to get YOUR frozen money faster, in the hopes you can invest it somewhere else to make the money back to pay the debt. Desperation tactics; madness.
looks/sounds 2 me like someone got bored and felt the urge to provide a half ass solution - A for effort tho. ironic how some NFT holders even work together and build projects/new schemes now to be able to extract some value from what they are sitting on (under pressure bc rekt?). if we want this to be a solution for society, why don’t we try to think ahead more? we are „creatures of habit“ they say after all…
Hi! I'm your Future, here today Two Years Later. Howare you guys doing with your NFT Loans, now that the NFT Market has apparently gone to Zero? Please tell us all what's Cracking when you can. Cheers!
literally did this with my pfp back in July, back when it was only worth 6k. What I learned is that it’s “scary” getting a loan denominated in ETH. I suggest getting the loan denominated in DAI
This is actually a great idea! Especially on the lending side. Offer attractive rates and get a chance to get a great NFT on a bargain.
Lovely to see DROPS mentioned, great project! $DOP
There's also the fact that these loans don't *need* to be done in a decentralized, on-chain manner. We're talking about valuations that might benefit from "traditional art lender" territory here, and they may be more generous in terms of how they'll be valuing the Loan-To-Value terms on an ongoing basis.
Was wondering about this just yesterday after aping into an NFT. Thanks for sharing!
can we convert NFT into USD again?
So you listed it for free? It looks like it's not possible anymore, you have to pay gas now.
There's just great stuff here. Thanks alot.
Thanks a lot for sharing !
I have NFTs that can be used in house plans.
You are the MKxJUMP of NFTs
Spectacular...Capital Efficiency...I live next door to an eccentric millionaire who proudly says he "used to be a derivatives trader" and he thinks NFTs are hocus and have no substance and no real use, meanwhile, as he lives off his rewards from peddling the very definition of hocus, he could be playing a role on both sides of this Capital Efficiency: either holding and borrowing against an NFT or lending on NFTs. I can only imagine the torrent of abuse I will get when I tell him he could be using his capital more efficiently!
whats stopping people from artifically pumping an NFT and then just borrowing against it with no intention of repaying?
Nothing but loans are not automatic, there needs to be a lender as well. So they take that risk and should do due diligence before offering
@@TheDefiant ah i see. so the lender must really be careful to make sure they would be happy if the borrower defaulted by having their own valuation estimate of the NFT
The only person who will profit from this is the lender if the loan is paid back; this is stupid. You're getting yourself in debt for a charge, to get YOUR frozen money faster, in the hopes you can invest it somewhere else to make the money back to pay the debt. Desperation tactics; madness.
You offended my capital
Meh
looks/sounds 2 me like someone got bored and felt the urge to provide a half ass solution - A for effort tho. ironic how some NFT holders even work together and build projects/new schemes now to be able to extract some value from what they are sitting on (under pressure bc rekt?). if we want this to be a solution for society, why don’t we try to think ahead more? we are „creatures of habit“ they say after all…
It’s the same idea as taking a loan against your house
@@lilbean_eth yeah. sounds kinda evil
Hi! I'm your Future, here today Two Years Later. Howare you guys doing with your NFT Loans, now that the NFT Market has apparently gone to Zero? Please tell us all what's Cracking when you can. Cheers!