FLY NFT MARKET TOOL helps NFT creators/collectors to use NFTs as collaratel on NFT lending platforms. About NFT Lending. NFT lending is the process of lending and/or borrowing money by using NFTs (Non-fungible token) as a collateral of the loans made. This process is managed by lending platforms, Best NFT Lending Platforms Examples are:- NFTfi,Arcade,Drop, Nexo and many more you will be connected to. The NFT lending process is part of the larger topic of Crypto Lending, that uses the same principle but with “standard” cryptos as a collateral. This is the usual process during an NFT lending situation: Borrowers use their NFTs as a collateral of their loan request, that will be locked (in the platform smart contract) once the loan money is issued Lenders, on their side, can accept to loan the money to the borrower in exchange of interests (usually paid in crypto such as ETH). Once the borrower repays the loan and the interests to the lender, he receives back his NFT If the borrower doesn’t pay back his loan, the NFT is given to the lender.
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