NiftyNoon: Can Lending Platforms Build the NFT “Killer App”?

NFT lending has steadily increased in popularity over the past few months (September 7, 2023)

Nifty Thought

• The steady increase in NFT lending has been somewhat polarizing in recent months. An increase in leverage on an NFT collection typically leads to a sharp price pump followed by deeper cut down as the leverage eventually unravels. While speculative borrowing (taking out loans against NFTs to buy more NFTs) is certainly controversial, asset-backed loans are generally considered lower risk.

• The opportunity that some platforms, such as Arcade and NFTFi, have identified with tokenizing physical objects for asset-backed loans is particularly compelling. Allowing a token to represent immutable ownership over a physical good opens up an entire world of finance to valuable objects that were traditionally ignored. In the long run, this could be a killer app for NFTs that entices both digital and physical collectors alike.

Highlighted News

• Arcade V3 is now live on ETH Mainnet:

  

  https://twitter.com/arcade_xyz/status/1699462129600827872?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Bored Ape Yacht Club shares Rift will now open sometime in the next week:

  

  https://twitter.com/boredapeyc/status/1699581445704990896?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Project and Community News

• Introducing Story Protocol: open IP infrastructure for the internet era:

  https://twitter.com/StoryProtocol/status/1699411637244158037?s=20

• Parent-child PR has just been merged into the Ordinals Protocol:

  https://twitter.com/leonidasnft/status/1699551401775415329?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @cuysheffield, Head of Crypto, explains Visa's POV on blockchain networks:

  https://twitter.com/visanews/status/1699432627491512361?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Everything you need to know about Torrent, dutch auction with settlement:

  https://twitter.com/heyjeres/status/1699268394745319674?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @sergitosergito requesting help to clear up friends frozen Coinbase accounts:

  https://twitter.com/sergitosergito/status/1699568141188100453?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• RIP TCG Vaults 8th of September:

  https://twitter.com/deadfellaz/status/1699221652297707581?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Floor shares Icons drop 7 now live:

  https://twitter.com/floor/status/1699452285636542540?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Justin Bieber's producer Axident selling the royalties from Bieber's song as NFTs:

  https://twitter.com/waleswoosh/status/1699476118137393194?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• Oras. Minting 9/13:

  https://twitter.com/visitsugartown/status/1699540978036609469?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

• @_deafbeef announces HASHMARKS:

  https://twitter.com/_deafbeef/status/1699415130126049642?s=46&t=Hb-nBT0zonE82bFfQEj7Cg

Quick Stats:

• Blur ETH Daily Volume: 3,093 ETH (▲ 41.62%)

• OpenSea ETH Daily Volume: 1,493 ETH (▲ 14.93%)

• BTC: $25,733.87 (▼ 0.03%)

• ETH: $1,632.43 (▲ 0.1%)

• Solana: $19.49 (▼ 1.62%)

• Polygon: $0.56 (▲ 0.76%)

NFT Daily Winners:

• 🌈 Doodles: 1.41 ETH (▲ 5.38%)

• 🏴‍☠️ Captainz: 3.59 ETH (▲ 2.48%)

• ⛩️ Azuki: 4.17 ETH (▲ 1.81%)

• 🐧 Pudgy Penguins: 4.05 ETH (▲ 1.50%)

• 🧬 Clone X: 1.44 ETH (▲ 0.69%)

• 🏳️‍🌈 Chromie Squiggles: 9.50 ETH (► 0.00%)

• 🐈‍⬛ VeeFriends: 1.69 ETH (► 0.00%)

NFT Daily Losers:

• 🦧 Bored Ape Yacht Club: 27.20 ETH (▼ 0.22%)

• 🦉 Moonbirds: 1.26 ETH (▼ 0.32%)

• 👩🏻 Milady Maker: 3.26 ETH (▼ 0.76%)

• 🚬 CryptoPunks: 47.00 ETH (▼ 2.04%)

• 🧟 Mutant Ape Yacht Club: 5.22 ETH (▼ 2.06%)

• ⛰️ Otherdeeds: 0.59 ETH (▼ 2.07%)

Notes:

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