Yuga Labs Dominates NFTfi’s Latest Top 5 Collections
- Cryptopunks leads in loan volume with 53 loans at an average APR of 10.4%.
- The peer-to-peer lending platform for NFTs, facilitating over $400 million in loan volume since 2020.
- Notable collections such as Bored Ape Yacht Club and Art Blocks make the top 5.
- NFTfi’s significant upgrade extends loans to 5 years, supporting ERC-1155 assets and more upcoming features.
- The NFTfi platform remains fee-free, offers fixed loan terms, and maintains a permissionless approach for easy access.
With the close of October, NFTfi has unveiled the top 5 NFT collections by loan volume, a list that’s notably dominated by Yuga Labs’ Cryptopunks and Bored Ape Yacht Club.
These collections have showcased remarkable lending statistics, underlining the dynamic nature of the NFT lending space.
Yuga Labs’ Cryptopunks secured the first position with 53 loans at an average APR of 10.4%, while Yuga Labs’ Bored Ape Yacht Club ranked second with 25 loans and an average APR of 22.7%.
The third spot was claimed by Memeland’s The Captainz, which amassed 120 loans at an average APR of 32.4%.
Art Blocks followed in fourth place, with 30 loans at an average APR of 21.4%, and Pudgy Penguins held the fifth position with 31 loans at an average APR of 21.2%.
Understanding NFTfi: Leading the Charge in NFT Lending
NFTfi acts as a peer-to-peer lending platform, offering a means for NFT holders to borrow cryptocurrency against their NFTs as collateral.
Noteworthy features of NFTfi include no borrower fees, fixed loan terms, no auto-liquidations, and a permissionless approach, ensuring an open, accessible lending environment.
🚨Major Protocol Upgrade🚨— NFTfi.com (@NFTfi) October 13, 2023
Among various other long-awaited features, the NFTfi protocol now supports loans for up to 5 years, and someone has already taken out the first-ever 2-year loan on a Chromie Squiggle!😮
Check the 🧵below to learn more about this upgrade. pic.twitter.com/zkJx3dpcSp
Embracing the New: Major Protocol Upgrade Unveiled
In a significant development, NFTfi’s latest upgrade expands its capabilities to offer loans for up to 5 years, unveiling the maiden 2-year loan on a Chromie Squiggle at 10% APR and ~74% LTV.
Moreover, this enhancement introduces support for ERC-1155 assets, set to widen the scope for diverse collateral types.
The protocol’s upgrade also teases further innovations to be rolled out by year-end, including refinancing, pro-rata interest repayments, and more.
Existing users will need to acknowledge new permissions due to introduced contract addresses.