NFTBank Partner Highlights Part 1 — P2P Lending Platforms

Published in

NFTBank.ai

5 min readNov 9, 2022

Ever since its launch in 2020, NFTBank’s primary goal has been to drive NFT financialization forward. And through years of hard work, NFTBank has positioned itself as a provider of NFT valuation APIs and a portfolio manager app for both institutions and individuals.

Currently, over 50 projects (both small and large) are active users of our NFT pricing APIs. Some are on their way to devising innovative services that have never existed, while others have already grown to become major players in the NFT financialization landscape.

And recently, NFTBank has succeeded in integrating its price appraisals into MetaMask’s portfolio view. Acknowledging this achievement, we would like to express our gratitude to our core partners who have helped us become who we are by actively supporting, promoting, and trusting our pricing model.

The NFTBank Partner Highlights Series

For the next couple of weeks, NFTBank will post a series of articles highlighting our key partners driving the NFT financialization space together. We will explain in detail who they are, what problems they aim to tackle, and how they leverage the NFTBank API. There might be some friendly faces and some new players that you might not know about.

For the very first post, we will dive into the world of peer-to-peer (P2P) NFT-backed lending. Introducing two of our partners who are at the forefront of the scene:

NFTfi
Arcade.xyz
and X2Y2.

NFTBank x NFTfi

NFTfi is the leading marketplace for NFT collateralized loans, with the most significant number of trading actions among various P2P protocols. Anyone can become a borrower or a lender on its platform. A borrower can list an NFT as collateral to get a loan against it; a lender can browse through different NFT collaterals and make loan offers by proposing a loan amount, duration, and interest rate.

To make a loan offer in P2P lending, you must be able to evaluate the price of the collateralized NFT accurately. A commonly used method is to use the collection floor price, but we all know that floor price is “the lowest” price out of thousands of NFTs in the collections and thus does not represent the actual value of individual NFTs.

This is the exact issue we aim to solve by partnering with NFTfi. By providing NFTfi users with the “NFTBank valuation” (also known as estimated price), we help its users make informed decisions when setting loan terms.

The picture above shows how NFTBank valuation steps in as a reference to where the price can be settled around. Covering 5000+ collections at a 90+% accuracy, the model runs in real-time so that the users can see how the value of the collateral changes instantly. NFTBank will continue to support NFTfi to help drive NFT lending, which acts as one of the pillars holding NFT Finance altogether.

NFTBank x Arcade.xyz

Arcade.xyz is another P2P marketplace for NFT collateralized loans. Since its public launch this year, Arcade.xyz has quickly built unique and innovative features for lenders and borrowers.

For instance, at Arcade.xyz, borrowers can mint airdrop-friendly Asset Vaults to leverage multiple NFTs as collateral for a single loan. Meanwhile, lenders that hold stablecoins or ERC20 tokens can also participate in DeFi yield by underwriting term loans collateralized by borrowers’ NFTs. There are many new functions in the platform and you can check them out in their docs here.

Similar to the case above, Arcade.xyz takes use of our proprietary price estimate model to encourage lending and borrowing activities. What’s more, Arcade.xyz also utilizes our floor price API, which provides aggregated floor price data from multiple NFT marketplaces, such as OpenSea, LooksRare, and X2Y2. With both a strong floor price and an estimated price being used as a reference, Arcade is locked and ready for P2P Lending.

NFTBank x X2Y2

X2Y2, one of the biggest NFT marketplaces in the space, recently launched its new P2P loans service. Within a month of starting, X2Y2 Loans secured the third-highest weekly lending volume of 650 ETH per week.

X2Y2 Loans support 19 bluechip NFT collections to lend and borrow against, with 0% platform fees. And now, with NFTBank’s valuation integrated into its platform, users can come up with more accurate and fair loan terms.

You can check out NFTBank’s Estimated Price when looking through NFTs with terms, when setting offers to lend ETH against an NFT, or when you are setting desired terms as a borrower. The valuation is provided in real-time to reflect the constantly changing prices!

NFTBank in the P2P Landscape

NFTBank is continuing to explore the space to form more partnerships in P2P lending. If you are building a P2P protocol (or if you are one), reach out to us! You can always request our floor price and estimated price API through this Typeform, or talk to us directly through our Discord channel.

We will be back with the second part of our partner highlights series: P2Pool NFT-backed lending platforms. Stay tuned to find out who they are!

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 5000+ projects with high accuracy. NFTBank has already become the NFT valuation solution for key projects in the scene, such as Chainlink, NFTfi, Pine, Stater, Unlockd Finance. NFTBank is supported by Hashed, DCG, and other partners and investors.