Binance Launches NFT Loans Feature on Its NFT Marketplace

Binance Launches NFT Loans Feature on Its NFT Marketplace

Binance's NFT marketplace has introduced a new feature that enables users to borrow cryptocurrencies using NFTs as collateral. The feature currently supports ETH borrowing against “blue-chip” NFTs, such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles.

The current interest rate on NFT loans is 7.91% p.a. and loan to value ratio ranges from 40% to 60%, according to the Binance NFT website. There won't be a gas fee or Ethereum transaction fee charge.

Earlier this month, Binance NFT Marketplace announced it will soon support Bitcoin Ordinals, also known as Bitcoin NFTs. Binance will allow users to purchase and trade Bitcoin NFTs directly from a Binance account, without the need for a separate Ordinals wallet. In addition, Binance will offer royalty support to Bitcoin NFT creators.

 

TokenInsight is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email news@tokeninsight.com. Your trust will be well respected.

Source

Binance

NFT MarketPlace

NFT

Lending

Related News
Binance South Africa to require information on senders and recipients for local compliance Binance South Africa to require information on senders and recipients for local compliance
Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint Quantum Cats NFT floor price plunges 54% post-Taproot Wizards mint
Binance tax evasion trial in Nigeria adjourned until April 30 on 'substituted service' argument Binance tax evasion trial in Nigeria adjourned until April 30 on 'substituted service' argument
Blur’s decline fuels OpenSea’s market share surge amid broader NFT struggles Blur’s decline fuels OpenSea’s market share surge amid broader NFT struggles
Binance suspends employee for allegedly profiting off of insider information Binance suspends employee for allegedly profiting off of insider information
Latest News More More
9 Hours Ago Citigroup predicts stablecoin supply could hit $3.7 trillion by 2030
9 Hours Ago Ark Invest raises 2030 bull-case bitcoin price projection to $2.4 million on 'aggressive' modeling
1 Day Ago Zora airdrop triggers confusion as token launches without announcement, requires users claim manually
2 Days Ago pot bitcoin ETFs see $936 million inflows as 'safe haven' narrative strengthens
3 Days Ago USDC closes in on $61 billion as institutional demand outpaces USDT growth
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open