NFTfi Launches Foundation to Foster Decentralized NFT Credit Markets
TLDR:
- NFTfi launches NFTfi Foundation to foster decentralized NFT credit markets.
- Foundation aims to develop infrastructure for healthy NFT credit markets and nurture ecosystem growth.
- Transitioning to decentralized governance with introduction of NFTfi Council and future plans for NFTfi DAO.
NFTfi, a pioneering platform in the NFT finance space, has unveiled the NFTfi Foundation, signaling a significant step towards the establishment of decentralized NFT credit markets.
As the importance of NFTs continues to grow in the digital landscape, NFTfi envisions a future where credit markets around NFTs will cater to millions of users.
The NFTfi Foundation aims to lead the way by creating a decentralized settlement layer that facilitates the expansion of these markets.
Introducing the NFTfi Foundation!
— NFTfi Foundation (@NFTfiFoundation) March 19, 2024
NFTs are becoming a core building block of the web and will be used by billions of people.
Our mandate is to develop the infrastructure necessary for healthy NFT credit markets.
Follow us, and let’s advance NFT finance together.
1/6 pic.twitter.com/RAVuAPKNQ3
Since its inception on the Ethereum Mainnet in May 2020, NFTfi has been at the forefront of the NFT revolution.
From enabling liquidity protocols for digital assets to breaking down barriers for users to access funds using their NFTs as collateral, NFTfi has played a pivotal role in shaping the NFT finance market.
To date, NFTfi has settled over $500 million in loans across more than 61,000 transactions, serving over 5,000 unique users and generating over $15 million in interest for lenders.
However, the platform sees this as just the beginning, anticipating exponential growth in the NFT finance market in the years to come.
Hey NFT collectors 🎨
— Animoca Ecosystem Insights (@animocainsights) March 20, 2024
Big news - @NFTfi just launched @NFTfiFoundation to lead the way in decentralized settlement innovations! 🚀
Get ready for exciting initiatives ramping up to boost the NFTfi protocol and tech stack in the months ahead! 🔥 https://t.co/kE6lHIaGbl
The NFTfi Foundation, a non-profit organization, is tasked with developing the necessary infrastructure to support healthy NFT credit markets.
It will oversee the NFTfi protocol and nurture the ecosystem until it becomes self-sustaining.
Transitioning from a centralized structure to a decentralized one, the NFTfi Foundation will introduce the NFTfi Council as a first step towards balanced stakeholder participation in key decisions.
This council, in collaboration with the Foundation Director, will define a roadmap for the evolution of the NFTfi DAO, ensuring effective community stewardship of the protocol.
In the coming months, the NFTfi Foundation plans to roll out initiatives to promote the use of the NFTfi protocol and technology stack.
Individuals or projects interested in contributing to the NFTfi ecosystem are encouraged to reach out to info@nftfifoundation.org.
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