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.
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.
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.
November 02, 2023
Native CryptoPunks support is here!
Today, we are excited to announce native CryptoPunks support, aimed at streamlining the borrowing and lending experience for every CryptoPunk holder and lender eager to lend on Punks! Wrapping your beloved Punks is now a thing of the past!Learn more >
October 26, 2023
The Rise of Long-Term NFT-Backed Loans: Lending Trends and Borrower Behaviors on NFTfi
In this article, we examine a significant trend emerging on NFTfi: a growing preference for long-term loans. Since the first quarter of 2023, there has been a steady increase in 365-day loans on NFTfi.Learn more >
October 12, 2023
NFTfi Protocol Upgrade and Multi-Year Loans
We are excited to announce that we have just completed a new protocol upgrade! This upgrade is a significant leap forward in our vision of expanding and deepening the utility of NFTs within the decentralized finance and NFT financialization ecosystem.Learn more >