NFT’s technological development is at its pinnacle! The digital revolution has taken the world by storm, creating every physical asset into a digital asset that can be monetized for a fortune. NFTs, or so they call the digital asset in the crypto world, these non-fungible tokens are getting sold like hotcakes writing themselves a definition for a lucrative business model. NFT Lending Platform is the latest one in the sector, attracting several users to the platform. 

The NFT trading platform, where the exchange happens, is built on four models, peer-to-peer NFT lending, peer-to-protocol NFT lending, Non-fungible debt position, and NFT rentals.

What is NFT lending ?

How is the NFT lending platform profitable?

Still wondering about NFT lending platform’s risks? You have come to the right place. Giving you an overview of why the NFT lending platform will be a profitable venue for you. 

1. NFT lending is done on the basis of smart contracts with fixed-rate loans.
2. The loan range is from 30 to 180 days. 
3. The liquidating of an NFT is increased when the loan-to-value ratio touches 33% or even higher.

NFT lending platforms in early 2020 had 300,00 US dollars, which eventually saw an upcurve of 14 million US Dollars and 150 million US Dollars by 2021 and 2022, respectively.

Workflow of the NFT Lending and borrowing 

NFT lending happens on-chain based on smart contracts integrated into the marketplace. The financial process utilizes both fiat currencies and cryptocurrencies. The decentralized system advocates the elimination of the centralized parties involved in the transaction.  As it is a P2P lending platform, they generate the interest for the loan borrowed as crypto money. 

The trade happens on NFTfi with a fixed time and rate for loans. It is because the system does not have access to liquidate NFTs. After all, when the price drops, capital access to the NFT is denied in the marketplace. The price range differs with the asset chosen to be given as collateral. The lending process is completed when the lender is done with paying back his interest rate. 

NFT lending platform development 

The development is done with the notion of receiving loans easily in the crypto world, unlike in any centralized institutions in the physical world. Users can instantly take loans with cryptos in hand by delivering a high liquidity marketplace based on smart contracts for its services. The lender can repay the loan to the pool, allowing the user to take another loan.

The NFTs in the platform have their own adhered terms with it for the loan governance. With the help of this, the lenders are enabled to decipher how much loan they can give out and calculate the liquidity they will receive once the loan period is over. 

Features of the NFT lending platform

1. Advanced Search Filters
2. Great Market Visibility 
3. Ownership 
4. Options for Flexible Financing  
5. Transparency 
6. Immutability
7. Secured transactions
8. High Liquidity 

Benefits of developing your own NFT lending platform

The user’s wallet constantly runs NFTs, as they are not in use. These unused NFTs have no real purpose without trading or auctioning, for that matter. In this case, deploying your own NFT lending platform works magic in the marketplace. 

1. The unused tokens can be used for the lending and borrowing of cryptocurrencies.
2. Enough flow of collaterals to pool for money that will be borrowed.
3. As the owner of the platform, you will receive a share for every transaction that is being made on the forum.
4. As Non-fungible Tokens haven’t been utilized, giving them up as collateral can earn you profits with every trade made.
5. You can develop the NFT lending platform independently and as an amalgamated part of an existing NFT trading platform.

Ways to generate profits from the NFT lending platform

• The interest is collected from the loans made to the people or any aspiring crypto corporation.
• Listing charges are fixed for the new stablecoins and the crypto money. 
• Services on mortgages while buying the crypto collectibles.
• NFT slots can be allotted to investors
• Transaction fee for every transaction made. Insurance money, such as cryptocurrencies, will be provided based on the collateral produced by the borrowers.
• An extra fee can be charged when the borrowers delay the loan repayment; an additional cost can be set.
• Transaction fee for every transaction made.

Appdupe’s intricate process to Launch NFT lending platform 

• Identify the  project 

Our elite team of adept professionals collects and assess the requirements of the project and even aid in conceptualizing the project for you. 

• Design and Development 

A specialized team is set for the task of building a user-centric appeal and is designed according to the flow of the platform. The design and other required devlopment are done from the scratch depending on the requirements of the user. 

• Quality Analysis 

After the logical operations for the lending platform are developed, the development team with our services enters a thorough analysis of its quality and functionality for the users. 

• Payment Gateways development

The engineers deployed will take care of the payment gateways and other security protocols. Anything required for the NFT  lending platform from front-end to back-end, as well as API connections, is also made available.

• Deployment 

Once all the required development is made as per the request, it is put through a series of tests, both manually and automated. Any error or issue found is rectified immediately to avoid any hindrance to the potency of the platform.

• Post-deployment support

We deliver an NFT lending platform to the buzzing marketplace after it fulfills the preset requirements of the users. Also, we commit ourselves to aid in all other services required by the users even after the launch of the NFT lending platform. 

Our extensive services for the NFT lending platform

1. Consulting and ideating services
2. Front-end and back-end development services 
3. Smart contract development services
4. Wallet development services
5. Stablecoin development services

Wherefore Appdupe?

Our decentralized lending and borrowing platform of cryptos promise to give only professionals for every project regardless of its scale. Appdupe’s decade-long experience and reliable solutions at an affordable price quote from us for a felicitous delivery of the product is fancied. The phenomenal potency of this decentralized finance lending platform with NFTs projects a high tension of improvement in the future, with it gaining traction and growing every day. 

With Smart contacts integrated to perform as an escrow for managing the entire lending and borrowing process, the functionality of our development is high. 

If you are in need of an NFT lending platform? Approaching us for any assistance required in the NFT lending platform development for a deft touch is the right choice!