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<a target="_blank" href="https://tokeninsight.com/en/exchanges/binance">Binance</a>'s NFT marketplace has introduced a new feature that enables users to borrow cryptocurrencies using NFTs as collateral. The feature currently supports ETH borrowing against “blue-chip” NFTs, such as Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Azuki, and Doodles.The current interest rate on NFT loans is 7.91% p.a. and loan to value ratio ranges from 40% to 60%, according to the Binance NFT website. There won't be a gas fee or Ethereum transaction fee charge.Earlier this month, Binance NFT Marketplace announced it will soon support <a target="_blank" href="https://tokeninsight.com/en/coins/bitcoin/overview">Bitcoin</a> Ordinals, also known as Bitcoin NFTs. Binance will allow users to purchase and trade Bitcoin NFTs directly from a Binance account, without the need for a separate Ordinals wallet. In addition, Binance will offer royalty support to Bitcoin NFT creators.&nbsp;<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>. Your trust will be well respected.

Binance Launches NFT Loans Feature on Its NFT Marketplace

TokenInsight

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