February 9, 2023, 10:47AM EST
• 7 min read

Current State of NFT Lending

Quick Take

  • 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.

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