NFTBank in Macro Hackathons — pushing forward NFT financialization
Various NFT financialization protocols emerged recently, pushing forward different applications of NFTs as an asset class. Branching out further from NFT marketplaces and aggregators, recent trends show NFT-backed lending/borrowing, NFT derivatives, auction houses, and many more.
NFTBank is at the forefront of discussing meaningful collaborations with such players. In fact, NFTBank has been paving the way to enable NFT financialization for the past two years — by providing essential tools that unlock the potential of NFTs as a financial instrument.
Our NFT portfolio manager provides an all-in-one solution for NFT collectors. At a glance, our users can spot their net asset value and oversee NFT market trends. Meanwhile, our free-to-use NFT price appraisal APIs offer price estimates for individual NFTs. Our estimated price is popular among lending platforms to assist in determining NFT collateral values.
And this time, to support NFT financialization at a community level, NFTBank joined Macro Hackathons as a sponsor. It was a great opportunity to support teams that could later take a meaningful part in NFT financialization. Here’s a sneak peek of what’s been happening in the competition and how we’ve been involved!
The First NFT Financialization Hackathon
Organized by Macro and 1kx, Macro Hackathons is the first-ever NFT financialization hackathon. A total of eight sponsors and supporters participated, with the shared goal to accelerate and surface the next-generation NFT finance protocols. NFTfi, Ronin, NFTperp, Sudoswap, Decentral Games, Goblin Sax, and Charged Particles joined along with NFTBank, many of whom we were already partners with.
The event was hosted virtually through Discord. For the following weeks starting from August 16 EDT, hackers were to find their teams, participate in sponsor workshops and AMAs, and finally come up with their original projects satisfying the judging criteria.
Hackathon Winners and NFTBank Bounty
Out of the quality submissions for the hackathon, the winners were:
- 1st Prize “PepeFi” — an NFT-backed loan platform utilizing a vault whose creators provide the lending terms such as APR and LTV
- 2nd Prize “NFTfi Options Protocol” — an NFT options protocol R&D, NFT options marketplace agent-based radCAD model, NFTfi Option Agreement type architecture guide, and many more
- 3rd Prize “Granular AMM” — a desirability-ranked sub-pool NFT AMM, where desirability scores are calculated depending on how desirable each NFT are
Meanwhile, the NFTBank bounty, titled “Use NFTBank API in your build (4000 USDC),” asked the hackers to utilize NFTBank’s NFT price estimate engine and other APIs to build an instrumental product for NFT financialization.
The winning team for the bounty was “Sudoswap Explorer,” a dashboard for visualizing Sudoswap trading activities. The project specifically featured wash trading indicators and corresponding NFTBank price estimates. (You can learn more about our NFT price appraisal model and its use here.)
Although there were only three winners, we had 18 different submissions in total. It was surprising to see that there is so much room for exploration in the field of NFT finance. Are you also taking part in this innovation? NFTBank is always looking for meaningful partnerships and new ways of collaboration. Feel free to talk to us!
Get on Board, Connect With Us
You can already find NFTBank APIs in various sectors across the NFT financialization landscape, such as NFT-backed loan or BNPL platforms, NFT marketplaces, and NFT aggregators. However, this is only the beginning of what’s to come, and we look forward to connecting with new builders in the space to further enable NFT financialization.
If you are a team or a project willing to contribute to NFT finance — connect with us!
Join our socials
- Official website: https://nftbank.ai
- Twitter: https://twitter.com/NFTbank_ai
- Discord: https://discord.gg/4yrNy4x
