How to start borrowing at NFTfi?
June 19, 2023 ・ 2 min read
Below, you can find video tutorials on how to start borrowing on NFTfi, using your NFTs as collateral to secure wETH, DAI, or USDC loans from lenders. As NFTfi operates on a peer-to-peer (P2P) basis, you always maintain complete control over your loans. Importantly, there are no auto-liquidations on NFTfi! To learn more about how NFTfi works, click here.
PLEASE NOTE!
This borrowing guide is made using Ethereum testnet. Testnet is used for testing purposes only, the tokens have no monetary value, but testnet works the same as the mainnet.
Please make sure that you have connected your Metamask and are on the Ethereum Mainnet network before you start using NFTfi.
1. Connecting your wallet
2. Listing your NFT
3. Accepting a loan offer
4. Repaying the loan
Should you default on your loan, the lender retains the right to foreclose on the loan, subsequently claiming the NFT you've put up as collateral.
To find even more information, check our FAQ section.
Follow us on Twitter and join our awesome Discord community if you need more help with getting started on NFTfi.
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 including NFT loans.
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October 08, 2024
NFTfi V3 is here! Flexible Loans and More
NFTfi V3 is the best version of your favorite NFT lending protocol. The highlight of this protocol upgrade is the introduction of Flexible Loans. Now, borrowers can choose a new loan type called “Flexible Loan.” Under flexible loans, they only repay the prorated interest instead of the full interest, as they did before. In other words, borrowers will have the option to pay only for the interest they use.
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Improved Underfunded Offers
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Learn more >January 31, 2024
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Learn more >