NFT lending platform Flowty raises $4.5 million in funding

Blockchain-based lending platform Flowty raised $4.5 million with Greenfield One and Lattice Capital leading the seed round.

Flowty was founded on 02/07/2022. This is a service that will bring together owners of valuable NFTs who want to get a loan secured by tokens, and lenders.

 

 

Since its inception, the platform has been developed at the expense of the three founders, without attracting external capital. However, further development required an influx of funds, and a seed round of funding was held. The raised funds will be used to expand the development team and the functionality of the service.

The Flowty platform is peer-to-peer and supports transactions directly between users. The absence of intermediaries makes the use of loans more convenient and cheaper.

No KYC is required to get a loan. Therefore, anyone can get access to Flowty. Even those who do not have access to banking services.

Working with the credit platform is built very simply. The borrower leaves an application on the platform, placing his NFT as collateral. Lenders review applications and select suitable ones.

They issue their funds in exchange for NFT, receive interest while using the loan. And if the borrower cannot repay the debt, his NFT goes to the lender to pay the debt.

 

 

You can get credit for Flowty not only under the NBA Top Shot, but also NFTs of other collections. The loan is issued in Flow FUSD and tUSDT. The platform receives a commission for transactions and storage of non-fungible tokens for the entire loan period.

Recall that you can buy NFT on the OpenSea platform. This is a popular external marketplace for the sale of non-fungible tokens. Here you will find the most interesting and popular collections.

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