Namefi and NFTfi Announce Strategic Partnership to Expand RWA NFT Lending Services
more loan opportunities for Namefi NFTs
Namefi, the first and largest platform tokenizing internet domain names on Ethereum, is excited to announce its strategic partnership with NFTfi, a leading peer-to-peer NFT lending protocol. This collaboration marks a significant milestone as Namefi becomes a whitelisted project on NFTfi, opening up new avenues for liquidity and lending in the DNS domain space.
About Namefi
Namefi is the world’s first platform dedicated to tokenizing DNS domain names such as .com, .xyz, and others on the Ethereum and Base mainnet. By transforming traditional domain assets into NFTs, Namefi allows domain holders to leverage their digital assets within the DeFi ecosystem, enhancing their utility and value.
About NFTfi
NFTfi provides a secure, anonymous, and efficient platform where NFT owners can obtain liquidity through peer-to-peer loans. Lenders on NFTfi can earn attractive yields and may acquire rare assets at a discount if loans default. This setup ensures a robust ecosystem where both borrowers and lenders benefit from the security and potential gains of NFT-backed loans.
Details of the Partnership
With Namefi’s integration into the NFTfi platform, domain name NFT holders will now be able to use their assets to secure loans in popular cryptocurrencies such as wETH, USDC, and DAI. This partnership empowers NFT holders with additional liquidity options while providing lenders with new, valuable NFT assets to add to their portfolios.
Key Features of the Partnership Include:
Loan Opportunities: Borrowers can use their Namefi tokenized domain names as collateral to secure loans on the NFTfi platform.
Enhanced Security: All transactions, repayments, and potential defaults are managed through a secure escrow smart contract, ensuring safety for both parties.
No Auto-Liquidations: The loans provided under this partnership will have fixed terms, with no auto-liquidations, offering more stability and predictability for borrowers.
Recommendations for Lenders
As part of this new offering, NFTfi recommends that lenders conduct thorough verifications, including double-checking the DNS expiry date of the domain name NFTs, before extending loan offers. This additional precaution ensures the integrity of the assets and the security of the loans.
A Forward-Looking Collaboration
In a groundbreaking move, Namefi and NFTfi are setting a stellar example for real-world asset (RWA) NFT lending and borrowing, fundamentally transforming how domain names are valued and monetized in the digital age. With the decentralized finance (DeFi) total value locked (TVL) standing impressively at $106.594 billion, this partnership is strategically positioned at the forefront of leveraging NFTs to finance transactions by tapping into more liquid assets.
Historically, domain names in Web2 have been notably illiquid assets, often held passively by owners without real-time mechanisms for price discovery or straightforward avenues for monetization. This collaboration between Namefi and NFTfi not only unlocks liquidity for domain holders but also pioneers the process of price discovery for domains. By tokenizing domain names and using them as collateral in DeFi lending, domain owners can realize immediate financial value from what was once an underleveraged asset.
For more information on this partnership and the services offered, please visit https://www.namefi.io/ and https://www.nftfi.com/.
Contact:
[Namefi PR Contact Information]: sunnyc@namefi.io
[NFTfi PR Contact Information]: storm@nftfi.com
This partnership is set to redefine the boundaries of NFT and DeFi interactions, promising a more integrated and expansive future for both platforms.