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Nord Finance Launches Nord NFT Loans

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Written by Publishing Team

BANGALORE, India–(Newsfile Corp.–January 10, 2022)– Nord Finance has launched Nord NFT Loans, a P2P NFT lending and borrowing product on their DeFi platform.

Artists make the world a beautiful and interesting place with their creativity. Due to the flawed nature of Internet 2.0, artists are unable to get their art digital and are often not rewarded for their creativity. Web 3.0 has opened the door for every artist to claim and monetize their digital creations using NFT. Now, artists can create their artworks and place them on the best web 3.0 platforms and attract the attention of art buyers all over the world. Both seasoned and novice artists get an equal chance of achieving their financial goals through their digital creativity.

The wealth of NFT holders is related to their NFT assets. If they find a new buying opportunity for NFT or Crypto assets, they have to sell the NFT in poor market conditions or at a discount to seize the new opportunity. The majority of NFT investors want to hold their assets for a long time and allow them to appreciate. NFT holders can benefit greatly if they can collateral NFTs like real assets to get credit to be used for investment, personal or business purposes.

Nord Finance has launched a new product for artists and art collectors to monetize their NFTs using Nord NFT Loans. Nord NFT Loans is a P2P lending and borrowing product to help artists and art collectors get paid for the NFT they have pledged. In addition, Nord NFT Loans is a place for investors to earn attractive interest by lending secured NFT money to another individual.

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Nord NFT Loans

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Borrowing on Nord NFT Loans:

Owners of NFTs can pledge NFTs as security and take out a loan against them. They can use the money for their personal and business needs.

If they decide to borrow money for their NFT, their NFT will be locked into a smart contract, and they will get credits in their account.

Lending on Nord NFT Loans:

Lenders can offer money to NFT holders and earn appropriate interest against the credit granted.

If they decide to loan money against the NFT, the NFT will be locked into a smart contract, and their account will be debited for transferring the credits to the borrower’s account. If the borrower is unable to repay within a mutually determined time frame, the NFT will be transferred to the lender’s account. The underlying mortgaged asset can help lenders cover their funds against any unseen event of default.

“We believe that the growing interest in NFTs among individuals, artists, collectors, influencers, celebrities, brands and the wealthy will only drive the growth of the NFT industry in the coming years. We are at the forefront of the growth of the NFT industry with Nord NFT Loans. We will facilitate P2P NFT secured loans to help NFT holders on using NFTs like real assets.”

Co-founder and CEO Amarnath Reddy

According to the latest report from the Financial Times, the NFT market reached $40 billion in 2021. The adoption of NFT will only increase in the coming years with more acceptance. Nord Finance is eyeing the fast-growing NFT industry with Nord NFT Loans.

website:
https://nordfinance.io/

Twitter:
https://twitter.com/Nord_Finance

Media contact:
contact@nordfinance.io

About Nord Finance

Nord Finance is an advanced decentralized financial ecosystem designed to simplify investing in Defi by bringing the key features of traditional finance to the DeFi ecosystem.

Nord Finance is built on the Ethereum network. Nord Finance’s multi-link interoperability powers a large number of financial priorities, which include savings, advisory, loans against crypto assets, investing and fund management.

Nord Finance creates innovative ways for everyone to generate wealth using Blockchain technology.

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