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Nexo, Crypto Lender Rolls Out NFT Lending Desk

So, This week, Crypto Lender, Nexo rolls out a lending desk for offering liquidity to NFT owners using their NFTs as collateral.

Notably, according to the company’s blog, Nexo notes that NFT owners can get “instant liquidity without having to sell your precious NFTs.”

Currently, the firm is accepting NFTs from two collections Bored Ape Yacht Club and Cryptopunks.

Of course, Nexo notes the company will add other collections to the list of accepted NFTs. In terms of credit withdrawals. Whereby, Nexo customers can make stablecoins withdrawals, ethereum (ETH), and other digital assets.

“Borrow up to 20% of the value of your BAYC or Cryptopunks without selling them,”

Then, Nexo continues.

“No Credit Checks [and] prompt loan approval without the hassle of credit scores and inquiries,”

So, the lender explains.
Additionally, Nexo confirms that the NFT lending process will be a “white-glove service,”
with “no liquidations before maturity, even if the value of your NFT…”
“fluctuates during the course of the loan, you won’t get liquidated.”

“Our NFT Lending Desk and art financing functionalities are just the beginning of Nexo NFT…”
“and metafi journey, with more investment-grade products, accessible, secure,…”
“and high-profit exposure to the NFT market coming to our product suite soon,”

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.