NFTfi, the leading lending and liquidity protocol for NFTs, has announced the successful completion of its Series A1 funding round with $6 million USD raised. Led by Placeholder VC, renowned investors in successful decentralized protocols and web3 services, this latest round of funding brings NFTfi’s total funding to $15 million USD.
Some notable co-investors include Maven 11, Launch Labs Inc, Kahuna Ventures, Brevan Howard, The LAO, Reciprocal, a_capital Ventures, Hash, Bloccelerate, Cypher Capital, Longhash Ventures, and prominent angels and DAOs like Punks DAO and Flamingo DAO.
The History of NFTfi
Launched in 2020, NFTfi is the pioneer of the NFT Finance space. On May 15, 2020, NFTfi was used to execute the first on-chain NFT loan and later set a record with a $1.42 million USD loan against Autoglyph #488 on October 21, marking the largest historical loan on a single NFT.
More recently, NFTfi has had a strong strategic push into RWAs (Real World Assets), partnering with Fabrica Land to enable users to unlock their first loans backed by tokenized real estate. The integration of Tokenized Luxury Watches into the platform is next.
NFTfi has also been a step ahead in leveraging NFTs for more advanced DeFi composability. By partnering with Sablier, Token Stream, and Sudoswap, for instance, the protocol now enables financial NFT-backed loans.
NFTfi’s user-centric approach has earned it a devoted following within the industry. With a total loan volume (TLV) surpassing $534 million USD, NFTfi has solidified its position as a leading dApp in NFT finance. In fact, lenders on NFTfi have earned over $15 million USD in interest to date, underscoring the platform’s value proposition.
In a short period of time, NFTfi has emerged as the go-to protocol for blue-chip NFTs, with top-tier collateral used on the platform and historical load total volume reflecting the platform’s dominance. Notable collaterals that are most prevalent on NFTfi include CryptoPunks, Bored Ape Yacht Club, Mutant Ape Yacht Club, Art Blocks, Autoglyphs, Doodles, Pudgy Penguins, Azuki, Clone X, Otherdeed for Otherside, and others.
