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Tackling the inherently illiquid nature of NFTs, NFT lending protocols offer traders the opportunity to access instant liquidity without having to dispose of their NFTs.
The overall NFT lending market has experienced a revitalization over the last few months as borrow and repay volumes have been on a consistent climb, reaching $75.7mm and $61.7mm, respectively, in January.
BendDAO and X2Y2 have weakened NFTfi’s leading position, although addressing the topic from different angles.
Footnotes
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