NFTfi, a leading lending and liquidity platform for NFTs, has announced the closure of its Series A1 funding round, having raising $6 million USD to bring its total funding to date to $15 million USD.
Lead by Placeholder, a number of prominent web3-focused venture capital firms and DAOs have joined the funding round, including Longhash Ventures, Punks DAO and Flamingo DAO.
Founded in 2020, NFTfi are best-known for facilitating the first on-chain NFT loan in May 2020, and have raised eyebrows with numerous 7-figure loans against NFT collateral facilitated by the platform in recent years.
What’s next for NFTfi?
NFTFI’s recent focus has been on Real World Assets (RWAs), partnering with Fabrica Land to unlock loans backed by Tokenized Real Estate, with further expansion into the tokenisation of luxury watches on the horizon.
To date, NFTfi’s total loan volume has exceeded $534 million USD, with users accruing over $15 million USD in interest to date on collateral loans for blue-chip NFTs such as CryptoPunks, Bored Apes, Autoglyphs and more.
With NFT trading on the rise, and the total market cap for NFTs sitting at around $10 billion USD, the NFT financial sector looks set to move in parallel with the market across 2024.
Want more? Connect with NFT Plazas
Subscribe to our Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram
*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
