Real-world assets linking up with non-fungible tokens (NFTs) is one of a few key catalysts that could reignite the waning NFT lending sector, which is suffering from a collapse in volumes and user activity, says blockchain analytics platform DappRadar.
Volumes in the NFT lending market, which data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/nft-de-fi-borrower-uses-luxury-watch-backed-nft-as-collateral-for-a-loan” title=”null”>allows NFT holders to take out a loan against their token, have dropped 97% from a peak of around $1 billion in January 2024 to $50 million in May, DappRadar analyst Sara Gherghelas data-ct-non-breakable=”null” href=”https://dappradar.com/blog/gondi-leads-as-nft-lending-is-down-94″ title=”null”>said in a May 27 report.
Gherghelas said data-ct-non-breakable=”null” href=”https://cointelegraph.com/explained/what-is-nft-lending-and-how-does-it-work” title=”null”>for NFT lending to “move beyond…
