Honey

Polygon

Honey Finance

<p>The NFT space is evolving rapidly, and with it, the financial tools that support this burgeoning ecosystem. Lending platforms are at the forefront of this evolution, allowing NFT holders to leverage their assets in innovative ways. Here’s a look at the top 5 NFT lending Dapps for October 2023:</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="1280" height="851" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/golden-bitcoin-alphabet-letters-with-text-nft-stands-non-fungible-tokens_Easy-Resize.com_.jpg" alt="bitcoin nft" class="wp-image-112899">
</figure>  
<h2 id="h-what-are-nft-lending-dapps"><strong>What are NFT Lending Dapps?</strong></h2> 
<p><a href="https://cryptoticker.io/en/top-5-free-nft-mints-2023/">NFT</a> Lending Dapps are decentralized applications that allow users to leverage their Non-Fungible Tokens (NFTs) as collateral to borrow funds or earn interest. These platforms bridge the gap between traditional finance and the digital art world, enabling NFT holders to unlock the liquidity trapped in their assets without selling them. By using smart contracts on various blockchains, these Dapps ensure secure, transparent, and automated lending and borrowing processes. </p>  
<p>The <a href="https://cryptoticker.io/en/pudgy-penguins-nft-collection-walmart/">NFT</a> space is evolving rapidly, and with it, the financial tools that support this burgeoning ecosystem. Lending platforms are at the forefront of this evolution, allowing NFT holders to leverage their assets in innovative ways. Here’s a look at the top 5 NFT lending Dapps for October 2023:</p> 
<h3 id="h-honey-finance"><strong><a href="https://honey.finance/" rel="nofollow">Honey finance</a></strong></h3> 
<p>Is a platform that operates on the Ethereum chain, allowing <a href="https://cryptoticker.io/en/nfts-lost-their-value-are-nfts-dead/">NFT collectors </a>to participate in multichain DeFi. It’s a unique blend of NFT Lending Dapps, both open-source and paid. Honey Finance enables its users to use their NFTs as collateral on peer-to-contract loans and also offers NFT farming. DAOs utilize the protocol to establish lending markets, matching lenders and borrowers in isolated risk markets (IRMs). The protocol adopts variable interest rates based on liquidity, and their anticipated Loan-to-Value ratio stands at 50%. For those interested in governance, the platform’s token $HONEY can be minted by staking NFTs into their farms.</p> 
<figure class="wp-block-image size-large is-style-default">
 <img loading="lazy" width="566" height="360" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-263.png" alt="" class="wp-image-120284">
</figure> 
<h3 id="h-pawnfi"><strong><a href="https://pawnfi.com/" rel="nofollow">Pawnfi</a></strong></h3> 
<p>Is available on both Ethereum and Polygon chains. It specializes in appraising and liquidating non-standard assets (NSAs) like LP tokens, minor cryptocurrencies, and <a href="https://cryptoticker.io/en/top-5-nft-collections-by-volume-traded-in-september-2023/">NFTs</a>. The platform employs a crowd-lending approach for assets with lower turnover rates and pool lending for high turnover assets. By combining modules for floor and ceiling prices, Pawnfi determines the true range of a given NSA.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="551" height="373" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-259.png" alt="" class="wp-image-120279">
</figure> 
<h3 id="h-pwn"><strong><a href="https://pwn.xyz/" rel="nofollow">PWN</a></strong></h3> 
<p>Operates on multiple chains including Ethereum, Polygon, Cronos, Base, and Mantle. It’s a peer-to-peer lending protocol tailored for long-term, mortgage-like loans of digital assets, backed by other digital assets. Borrowers can secure fixed-duration loans of fungible tokens using either fungible or non-fungible tokens as collateral. The protocol is trustless, operates without oracles, and doesn’t require protocol-managed liquidations.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="706" height="387" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-260.png" alt="" class="wp-image-120280">
</figure> 
<h3 id="h-pawnspace"><strong><a href="https://pawnspace.io/" rel="nofollow">PawnSpace</a></strong></h3> 
<p>Is exclusive to the Polygon chain. It’s a decentralized NFT-collateral lending platform that employs a peer-to-peer lending model. Users can collateralize ERC-721 NFTs on the platform. The peer-to-peer model empowers borrowers and lenders to handpick deals based on the value of the collateral provided.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="530" height="362" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-261.png" alt="" class="wp-image-120281">
</figure> 
<h3 id="h-frakt"><strong><a href="https://www.frakt.xyz/lend" rel="nofollow">Frakt</a></strong></h3> 
<p>Operates on the Solana chain. The Frakt protocol is a fusion of DeFi and NFT, enabling users to make their NFTs liquid on the Solana chain. Users can obtain $SOL and $USDC liquidity using their NFTs or pool tokens as collateral. Frakt offers both perpetual (dynamic interest) and flip loans (fixed interest for a short duration). The platform’s peer-to-pool lending allows users to earn interest on their $SOL, which can be swapped for $USDC. Additionally, their “Initial Liquidity Offering” (ILO) solution ensures post-mint liquidity, safeguarding against potential rugs.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" width="561" height="353" src="https://cryptocdn.fra1.cdn.digitaloceanspaces.com/sites/8/image-262.png" alt="" class="wp-image-120282">
</figure>  
<p>In conclusion, as the NFT space continues to grow, these lending platforms are providing invaluable tools for users to maximize the utility of their assets. Whether you’re looking to earn passive income, secure a loan, or simply explore the possibilities of the NFT world, these Dapps offer a range of solutions to meet your needs.</p> 
<p><em>Note: Always conduct your own research before using any platform or service.</em></p>

Top 5 NFT Lending Dapps for October 2023

Table of Contents

CryptoTicker ENG

Other articles published on Oct 11, 2023

Caroline Ellison Accused SBF of Hiding $9.9B Debt to Customers!

Sergey Nazarov Says People Will Understand Chainlink (LINK) When ‘We Power Everything’

XRP (XRP) Price Prediction 2024, 2025, 2030, 2040, and 2050

September Monthly Recap Video

Visa announces $100M fund for AI innovations, The Graph & InQubeta uptrend begins

Standard Chartered predicts Bitcoin’s future value

Join our free newsletter for daily crypto updates!