Blog - Product Updates

Native CryptoPunks support is here!

November 02, 20232 min read

Blog thumbnail native punks support

CryptoPunks were the first collection to hit $100M in total loan volume on NFTfi. The iconic collection still holds the number one spot to this day.

CryptoPunks were created in mid-2017, prior to the adoption of the ERC-721 standard. This meant that CryptoPunk holders previously had to "wrap" their Punks to take out a loan on NFTfi. We are glad to announce that's now a thing of the past!

Today, we are excited to launch a significant enhancement to our platform. This upgrade aims to streamline the borrowing and lending experience for CryptoPunk holders!

Say goodbye to wrapping Punks!

With our native (i.e., non-wrapped) CryptoPunks support, we have removed the need for the “wrapping” step. Punk holders can now effortlessly list and secure loans against their Punks directly, without any need to wrap the Punk.

All loan and offer types are compatible with native CryptoPunks, including fixed loans, standing collection offers, and private offers. Bundles with native CryptoPunks are currently not available.

NFTfi punks support wrapped native

Going forward, both CryptoPunks and Wrapped CryptoPunks collections will be displayed in the dApp. Lenders should note this distinction when making loan offers on CryptoPunks.

Loan stats on Punks

Wrapped CryptoPunks hold the top spot based on cumulative loan volume, boasting over $130 million across 2,374 loans.

The average loan duration for Punks stands at 42 days, and the average loan amount is c. $55k.

The average loan APR in the last 30 days is 10.5%, resulting in an average true loan cost for Punks of a mere 1.48% for a 42-day loan duration.

Recently, we've noticed a rising trend in the number of Punks being used for 1-year loans on NFTfi.

365-loan punks NFTfi

First time learning about NFTfi?

If you're just discovering NFTfi, watch the video below for a quick overview and check our beginner’s guide to borrowing.

Stay up to date by following our Twitter, and chat with experienced users by joining our thriving Discord community.

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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