CandleFocus Someone Just Took Out a $2.75 Million Loan Against This One-of-One CryptoPunk NFT
2024-11-27
Author: Content Editor
CryptoPunk #8348, a unique NFT with seven traits, has been loaned for $2.75 million through NFT lending platform GONDI. The loan has a six-month maturity and a 20% interest rate. If the borrower, Seedphrase, fails to repay the loan in time, he will lose ownership of the CryptoPunk. Seedphrase compares using the NFT as collateral to using a valuable piece of traditional art. The loan is the largest ever facilitated by GONDI, which has now reached over $100 million in net loan volume. GONDI supports various NFT projects, and the floor price for CryptoPunks has recently surpassed $100,000.
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