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South Africa’s NFTfi raises $5M so people can use their NFTs as collateral for loans

TechCrunch

NFTfi users apply a common practice in the traditional art world where banks, big galleries or auction houses offer loans to artists to determine if an NFT is worth a loan or not. . On NFTfi’s platform, lenders make evaluations and give borrowers up to 50% of their NFT value as the loan principal.

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