About NFTfi
NFTfi.com is a simple marketplace for NFT collateralized loans that allows you to put your NFT assets up as collateral for a loan, or offer loans to other users on their non-fungible tokens. Technical briefing by Stephen Young & SJ Powell.
Overview of Briefing
0:00-0:33
Stephen Young will be presenting this technical briefing and starts off by introducing NFTfi.
0:33-1:12
Stephen will take us through the demo as a borrower.
On the homepage of NFTfi, we see all the assets that are associated with that account. Stephan uses an asset he owns on this demonstration account.
1:12-2:29
We see that this owned asset can be listed as collateral. Stephen shows us how the user can list the NFT for a crypto loan value with a chosen duration, between the choices of 7, 14, 30, and 90 days.
To finalize the listing, the asset owner signs a MetaMask transaction.
2:29-2:56
Stephan then moves us into the lender view.
We see all the assets that have been listed.
2:56-3:37
As a lender, you can make an offer on a chosen asset.
Stephen goes through an example of what a lender would do to transact a listed asset. Once a lender sends an offer, the borrower can go in and accept that offer.
3:37-5:04
Stephen jumps back into the borrower’s account to show that side of a transaction.
We then see the example transaction pan out and how the listing process from start to finish works.
5:04-5:24
Stephen explains how the repaying process works and explains that NFTfi takes a 5% cut on the interest made from the transaction.
In an event the borrower does not pay back the loan, the lender keeps the asset.
5:24-5:47
Stephen closes out the technical briefing with NFTfi success since its beginning in June 2020.
Sponsors
V-Sum_Eleven is made by possible by IowaEDA