CloneX: A community of creative visionaries, cultural innovators and liquidity legends
March 08, 2023 ・ 5 min read
Among the thousands of NFT projects, brands and communities active today, one alone is redefining contemporary culture and accelerating the arrival of a hybrid, immersive, and immaculately tailored future.
This creator-led community is busy building a new world at the intersection of fashion, sports, tech, gaming and art. And at the center of this ever-expanding ecosystem? It’s CloneX of course!
CloneX is notably spearheaded by RTFKT and its distinctive, daring and diverse avatars were created in collaboration with Japanese contemporary art icon Takashi Murakami. In the words of CloneX LA founding member @Dremill:
“CloneX ties together all the cultures that are moving this world”.
CloneX x NFTfi: Two Peas in a Pod
So CloneX’s cultural capital is firmly secured, but what about other kinds of capital? As it turns out, the CloneX community are also clearly OG NFTfi power users! Holders have been borrowing and lending against their unique assets since 2021. Let’s take a closer look!
A total of 716 CloneX loans have been executed on NFTfi to date and the collection’s total loan volume has surpassed 11M USD, placing it firmly in the top 2% of collections on the platform. 200 unique borrowers and 163 unique lenders have participated so far, securing CloneX users the No. 5 and No. 6 highest spots respectively. The highest individual loan was for an impressive $144,623 on CloneX #12923, while the average loan amount comes in at $15,707.
Lately, things are heating up even more 🔥
In spite of being the shortest month of the year, February saw a huge spike in CloneX lending activity on NFTfi, with a monthly volume of over $650k 👀
Pretty cool stats, but what do they really mean? We chatted to CloneX community members across the world to get a better idea of how and why they use NFTfi. Safe to say, we’re bullish on lending liquidity for CloneX.
Why lend against CloneX NFTs on NFTfi?
First up, we spoke to a New York-based CloneX holder and long-term NFTfi user about why she lends:
"Using NFTfi as a lender allows me to feel the pulse of the NFT market. It possesses the energy of a New York City sample sale in the 2010s with the mechanics of a loan. When macroeconomics suffer, it is also a fun way to compound ETH."
As this case study shows, CloneX holders are pros at putting their spare ETH to work by lending against other NFTs in the collection, a move which benefits the whole ecosystem.
You can also maximize your CloneX’s utility by borrowing on NFTfi!
It’s official - Clones are some of the strongest diamond-hands out there. According to analysis by punk9059, 92.1% of CloneX NFTs have not been traded a single time this year. This puts CloneX firmly in the top 3 most tightly-hodled projects, alongside Punks and BAYC.
For many passionate community members, selling isn’t on the cards - but what if you’ve spotted a great short-term opportunity in the market? Or perhaps you need a financial cushion to ride out a period of volatility? Or there’s something happening IRL you need liquidity for? Or maybe, borrowing is fundamental to your risk-management strategy.
Whatever your motivations are, that’s where NFTfi comes in. You can borrow against your CloneX in a simple, trustless and permissionless manner. Want to pay the loan back early? You can. Want to negotiate a loan extension? No problem. Want to borrow against multiple NFTs in the most gas-efficient manner? Go ahead!
But don’t take our word for it - what do CloneX borrowers think? For Chidz, NFTfi has become an indispensable tool:
“For me personally. I love the fact you can borrow against your NFT without having to sell the NFT. So it provides me with liquidity while knowing I can still claim back my NFT at any time before the loan is due. Especially if it is an NFT that you are attached to and don't want to let go of, this is the best way to get liquidity out of it while still owning it (technically, if you don't default 😂). No credit check needed as well, and can borrow within seconds thanks to the available collection offers."
And why NFTfi over other lending protocols? As NFTfi operates a peer-to-peer model, you have full control over which NFTs you choose to borrow and lend against, so you can maximize the desirability of your CloneX’s specific traits and set up custom loans that work for you.
For CloneX, the sky is no longer the limit - or as RTFKT would say: the future is now. We chatted to lead moderator Felon about RTFKT’s innovative “forging” technique, the upcoming Animus EGG reveal, and how CloneX holders’ digital and physical identities are only just getting started. Safe to say, we’re excited 👀
For those who want to stick around for the full RTFKT ride, NFT lending is a fast-growing industry that can help holders access liquidity and take full control of their financial planning without parting with their precious assets. There are plenty of opportunities here open to CloneX holders and fans alike, and we look forward to building an even closer relationship.
To get started, you can check out these beginner-friendly guides to both Lending and Borrowing on NFTfi, stay up to date by following our Twitter and chat with experienced users by joining our thriving Discord community.
For CloneX updates, we recommend RTFKT’s Discord, Twitter and website.
This article is for educational and informational purposes only and should not be considered financial advice. Conduct your own research and due diligence before making any investment or financial decisions, such as when considering novel products such as NFT loans.
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