The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

NFTBank Powers NFT Pricing for X2Y2 Loans

by ChainWire
December 19, 2022
in Industry Announcements

December 19, 2022 – Seoul, Korea


NFTBank joins forces with X2Y2, the third-biggest NFT marketplace on Ethereum and an emerging NFT loans platform.

Over the past two years, NFT financialization infrastructure has emerged along with the rise in popularity of NFTs. Branching out further from NFT marketplaces and aggregators, recent trends show NFT-backed loans, NFT rentals and NFT derivatives – platforms serving trading activity for NFTs as collectibles.

Following this trend, X2Y2, the third-biggest NFT marketplace in the world with a total trading volume of over $950 million, launched its own NFT loans platform this September.

X2Y2 Loans is a P2P (peer-to-peer) lending platform, where individual NFT holders meet up with an individual liquidity provider to settle a loan term. The two parties negotiate the loan term based on the value of the NFT, such as LTVs, interest rate and loan duration.

While NFTs are not the most liquid assets, NFT-backed loans help solve this issue by unlocking liquidity even when a holder cannot sell their NFTs.

However, in this case, knowing the accurate value of the NFT becomes extremely important. Loan terms are negotiated based on the value of individual NFTs, and recognizing the correct collateral value allows lenders and borrowers to settle on more fair and diverse loan terms.

In an attempt to provide its users with accurate NFT pricing data, X2Y2 partnered with NFTBank, the leading NFT valuation provider.

For a long time, NFT pricing has been a complex issue. Not only is every NFT unique but also sales transaction data is extremely limited. And NFTBank has sought to tackle this issue from the earliest days of NFTs.

The years of work led to an advanced machine learning-based statistical algorithm to provide price estimates for individual NFTs with over 90% accuracy. By using information such as floor price, rarity and bid/ask distribution, NFTBank’s ML model computes a single price value for any given NFT in a collection.

Today, NFTBank offers pricing information for over 5,000 NFT collections and makes them available both with APIs and its own dedicated app.

With NFTBank’s valuation supporting every single NFT listed on X2Y2 loans, users can now make better decisions with a lot more insight than before when setting loan terms. For instance, borrowers can more efficiently decide on how much to put up their NFT to borrow against, and lenders can easily look for which NFT to provide liquidity for.

X2Y2 Loans is meaningful in the sense that they are the first marketplace to move onto a loans platform. With more than 3,000 DAU, X2Y2 is trusted by plenty of buyers and sellers in the market.

With the loan service on top of the marketplace, its users can make purchasing and lending decisions all in one platform. Just in two and a half months since its launch, X2Y2 became a top three NFT loan platform approaching 8,000 ETH in total loan volume.

Meanwhile, NFTBank has already become the NFT valuation solution for key projects in the scene.

Recognized for its NFT pricing information, NFTBank has recently integrated into MetaMask’s portfolio DApp, while also providing data for Chainlink, NFTfi, Pine, Stater and Unlockd Finance. NFTBank is supported by Hashed, DCG and other partners and investors.

About NFTBank

NFTBank is an NFT portfolio management tool and valuation engine, allowing users to make informed decisions about their NFT portfolio and enable advanced DeFi use cases.

NFTBank’s ML-powered NFT valuation engine covers over 5,000 projects with high accuracy. You can find more information about NFTBank here.

Contact

Jen Kim, head of product at NFTBank

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.


Follow Us on Twitter Facebook Telegram

Check out the Latest Industry Announcements
 

 
Submit a Press Release

Industry Announcements

  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,461.29
$23,461.29
0.74%
Ethereum
$1,669.93
$1,669.93
0.66%
Cardano
$0.4053
$0.4053
0.81%
XRP
$0.412296
$0.412296
0.25%
Dogecoin
$0.092675
$0.092675
0.69%

Spotlight

  • Whales Abruptly Move Over $150,000,000 in XRP and Dogecoin As Bitcoin Floats Above $23,000
    January 29, 2023
  • Here’s the Next Ethereum-Level Opportunity for Crypto Traders, According to Investor Who Called Bitcoin Reversal
    February 1, 2023
  • Top Crypto Analyst Sees Volatility in Store for Bitcoin, Zooms Out on One Popular Ethereum-Based DEX Token
    February 3, 2023
  • Bitcoin (BTC) Skyrocketing by Over 50% From Current Levels Is ‘Very Doable’, Says Economist Alex Kruger
    January 27, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl