Nexo groups up with Three Arrows Capital and launches NFT Lending Desk

Nexo introduced the launch of a brand new NFT Lending Desk service for OTC shoppers– changing into the primary crypto lender to introduce NFT-collateralized crypto credit score and artwork financing companies for the asset class.

The launch outcomes from Nexo’s collaboration with the outstanding crypto and NFT-focused hedge fund Three Arrows Capital.

NFT Lending Desk

Nexo leverages instantaneous crypto loans, and the addition of NFT lending service permits the platform to deal with the wants of a broader number of buyers.

Its pioneering NFT-collateralized crypto credit score permits shoppers to borrow Ethereum, stablecoins, and different cryptocurrencies.

The specialised service is on the market to all shoppers and kicks off with accepting two famend NFT collections: Bored Apes and CryptoPunks, with extra units to be introduced within the following weeks.

The brand new characteristic additionally permits shoppers to instruct Nexo to make NFT purchases on their behalf through the use of the issued crypto credit score–introducing “a potent type of artwork financing within the digital house that in any other case proliferates the standard monetary sphere.”

“NFTs’ potential reaches far past artwork, encompassing possession, unique entry, capabilities, and options. As we proceed to find the complete scope of this asset class, companies like Nexo’s lending will likely be in excessive demand to unlock NFTs’ underlying worth whereas permitting customers to retain possession,” Nexo Co-founder Antoni Trenchev stated in a press launch.

Partnership with Three Arrows Capital

“Our partnership with Three Arrows Capital is a definitive transfer in direction of offering monetary devices and Web3-native MetaFi,” stated Trenchev commenting on the collaboration that bolstered Nexo’s crypto credit score issuance capabilities, and enabled the lender to broaden its market attain.

In the meantime, by leveraging threat hedging, valuation, and liquidation mechanisms wanted for Nexo’s NFT Lending Desk, Three Arrows Capital positive aspects extra publicity to the NFT market.

“We’re completely happy to associate with Nexo and show our recognition of NFTs’ promise as a monetary instrument–one which requires applicable, high-quality monetary instruments to be totally leveraged. At Three Arrows Capital, we’re fuelled by and invested in such forward-facing innovation,” commented Three Arrows Capital Director Kyle Davies.

As revealed within the press launch, Three Arrows Capital additionally counts as the primary NFT Lending Desk consumer–with an NFT-collateralized crypto credit score issued by Nexo.