NFT Lending Protocol Gondi's Developer Florida Street Closes $5.35 Million Seed Round with Dragonfly Involved

Florida Street, the developer of the NFT lending protocol Gondi, closed a $5.35 million seed round co-led by Hack.vc's Alex Pack and Foundation Capital's Rodolfo Gonzalez, with participation from Dragonfly, Pantera Capital, and 6th Man Ventures. 

Gondi allows lenders and borrowers to capitalize on the value of blue-chip NFT collections on the Ethereum blockchain. Lenders can put up their NFTs on the platform for a fixed rate, while borrowers can use the NFTs as collateral or for use on NFT-based financial applications.

Gondi says that borrowers on its platform only pay interest based on the outstanding loan duration. Moreover, borrowers benefit from instant refinancing, ensuring they always get the best loan terms available, even after having initiated the loan.

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.