Nexo teams up with Three Arrows Capital and launches NFT Lending Desk

Nexo, a blockchain platform that offers instant loans has partnered with Three Arrows Capital and launched the Nexo NFT Lending Desk. The new product will allow for portfolio management of crypto-backed assets by creating unique tokens on top of the Ethereum network. This is a step in the right direction to creating stable investment products while bringing more liquidity into cryptocurrencies as they mature.

Nexo has announced the introduction of a new Lending Desk at NFT service for OTC customers, making it the first crypto lender to provide NFT-collateralized crypto credit and art finance services.

Nexo’s engagement with Three Arrows Capital, a major crypto and NFT-focused hedge fund, resulted in the debut.

NFT Lending Desk

Nexo makes use of fast crypto loans, and the advent of the NFT lending service allows the platform to cater to a wider range of investors’ demands.

Clients may borrow Ethereum, stablecoins, and other cryptocurrencies using its ground-breaking NFT-collateralized crypto credit.

The specialized service is open to all customers and begins with the acceptance of two well-known NFT collections: Bored Apes and CryptoPunks, with additional sets to be released in the coming weeks.

Clients may also use the granted crypto credit to order Nexo to make NFT purchases on their behalf, offering “a formidable form of art financing in the digital domain that otherwise proliferates the conventional financial sector.”

“The potential of NFTs extends well beyond art, to include ownership, exclusive access, functionality, and features. “As we learn more about this asset class, services like Nexo’s financing will be in great demand to unleash NFTs’ underlying value while enabling consumers to maintain ownership,” stated Nexo Co-founder Antoni Trenchev in a press statement.

Three Arrows Capital has formed a partnership with us.

“Our relationship with Three Arrows Capital is a decisive step toward offering financial products and Web3-native MetaFi,” Trenchev said of the deal, which boosted Nexo’s crypto credit issuance capabilities while also allowing the lender to expand its market reach.

Meanwhile, Three Arrows Capital acquires more exposure to the NFT market by leveraging risk hedging, valuation, and liquidation methods required for Nexo’s NFT Lending Desk.

“We are pleased to collaborate with Nexo and show our understanding of NFTs’ potential as a financial instrument–one that can only be fully realized with the use of proper, high-quality financial instruments.” “At Three Arrows Capital, we’re fueled by and involved in such forward-thinking innovation,” said Kyle Davies, director of Three Arrows Capital.

Three Arrows Capital is also the first NFT Lending Desk customer, according to the news announcement, with an NFT-collateralized crypto credit granted by Nexo.

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