Major media reports can tell you that. NFTs They are dead but the A Cryptopunks NFT says he wants to prove them wrong — by taking out a seven-figure loan on one of the rarest properties in the popular Profile picture (PFP) collection.
“Look, four or five months from A In the text A rolling stone Saying that NFTs have no value,” said the collector and entrepreneur Gmoney today Rag Radio's live “FOMO Hour” show. “And I was like, ‘Well, if I can get a million dollar loan on NFTs, what better way to show that these are worthless, right?'
Gmoni, founder and CEO of Ismula Connected fashion brand 9dcc, is known in the crypto world as someone who made big bets on high-value assets. and collected A large following In the process, his PFP will become more prominent.
His CryptoPunk #8219 It is one of 24 monkeys in a total collection of 10,000 NFTs, with others selling for up to $10 million in the past. Cryptopunks Start at around $140,000 Worth it Ethereum As of this writing, on secondary marketplaces, however, sale prices for rare properties in the collection can still offer multiples of that high.
He He confirmed the loan on Gondione Several NFT lending protocols Corresponding to NFT holders in a decentralized manner with liquidity providers. Holders can take out loans with the NFT itself as collateral, and the counterparty that floats the money is taking a bet that they will earn some interest on the transaction – or take out the NFT itself if the loan defaults.
This Special loan It was for a $1 million USDC stablecoin with an interest rate of 14%, but for a 180-day period—meaning it was set to pay more than $69,000 in interest every six months.
It was hailed as the biggest loan of the day through the NFT lending platform.
Gmoney claimed to be an investor in Gondi. Rival NFT Lender Arcade– But such lending platforms do not require any special relationship, reputation or real-world identity verification. Any valuable NFT holder can take credit at an incredible rate.
And the addition of NFT-backed loans will see what they can do to further advance the space.
“When you think about the property appreciation we had last cycle — that was without credit, right?” he said. “What happens when you put credit into the system? You start to see some pretty crazy things happen.
Edited by Ryan Ozawa.
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