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 suspends employee for allegedly profiting off of insider information Binance suspends employee for allegedly profiting off of insider information
Binance Records $3.97B Weekly Inflows Binance Records $3.97B Weekly Inflows
Sony’s Soneium debuts its first music NFT collection with crypto record label Sony’s Soneium debuts its first music NFT collection with crypto record label
Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation Arbitrum, Azuki-backed Animecoin unveils tokenomics with over 50% community allocation
Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined Binance inflows for 2024 are almost 40% higher than the next 10 exchanges combined
Latest News More More
8 Hours Ago 0xbow unveils ‘Privacy Pools,’ a new blockchain privacy tool drawing from Vitalik Buterin’s research
5 Days Ago Ethereum edges closer to deploying Pectra on mainnet with successful upgrade on Hoodi testnet
5 Days Ago MEXC Extends DEX+ Platform to Binance Smart Chain Users
March 25 BlackRock launches bitcoin ETP in Europe following US success
March 21 Pump.fun launches DEX called PumpSwap to instantly migrate graduated token
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open