Pine Protocol Announces Strategic Partnership with Sharky
We are excited to announce a strategic partnership with Sharky, a leading NFT-backed lending platform on the Solana Network. At Pine, we allow our users to access instant liquidity with their Ethereum-based NFTs. We are backed by some of the most renowned and respected investors in the space, such as: Sino Global Capital, Amber Group, Spartan Capital, Gate Ventures and more!
Pine offers a flexible suite of on-chain tools, allowing our users to utilize their NFT assets as collateral for loans, and, also, to purchase and bid on NFTs, making payments after the transaction like you would with a mortgage. Within months of launching a beta platform on the Ethereum mainnet, we have facilitated over $4 million USD in loan transactions and helped NFT holders extract new value from their held NFT assets.
Sharky is a leading NFT-backed lending platform on the Solana network, and allows for users to utilize their Solana-based NFTs as collateral for loans. Since launch, Sharky has facilitated over 200,000 loans for users on Solana. Pine Protocol will be working with Sharky to build out a multichain lending platform, supporting NFT loans across different ecosystems to provide powerful NFT finance tools for each and every NFT community.
In addition, we will work closely with the Sharky team in cross collaboration of joint marketing campaigns and plan to launch multichain support with their team later this year.
Regarding the partnership, our Pine Head of Product, Alex Ho, commented, “ Partnering with the leading NFT lending platform on Solana affirms that Pine Protocol is receiving a lot of attention across users of different platforms. We’ve seen recently projects such as DeGod expanding across different networks, and through our partnership with Sharky we will work together to pioneer the NFTfi landscape.”
Pine protocol is a two-sided decentralized non-custodial protocol that facilitates NFT asset-backed loan transactions between lenders and borrowers. Pine Protocol is pioneering the NFTfi landscape with an NFT loan infrastructure that empowers NFT mortgages, margin trades and other credit-related transactions simply with the utilization of idle NFT collectibles.
