- Hoard Exchange launches its NFT marketplace with lending functions.
- The Loan feature on the Hoard Market opens new possibilities for NFT holders
- Hoard’s solution provides lenders a tool to yield high profits.
On Wednesday, Hoard Exchange (HRD) launches its Ethereum based non-fungible token (NFT) marketplace for trading, renting, and lending. It should be noted, Hoard bridges the gap between NFTs and the gaming industry.
In addition, Hoard allows users to borrow and pledge NFTs such as in-game items, digital art, domain names, and more.
Furthermore, users can discover other NFTs they want to purchase on the platform. It allows users to trade their own NFTs by listing them on Hoard. Once users acquire an NFT or upload their own NFT into the marketplace, they can use them as collateral for a loan. However, the loan depends on supply and demand.
Radek Zagórowicz, CEO of Hoard said:
The Loan feature on the Hoard Market opens new possibilities for NFT holders. This is the first step of further development of novel NFTs functionalities/utilities which Hoard is going to introduce in the coming months
With that said, Hoard’s solution provides lenders a tool to yield high profits. Not only allowing them to take profits but also a chance to acquire NFTs in case of a foreclosure.
Apart from this, the platform will provide beginners and advanced crypto enthusiasts with a user-friendly interface. Hoard focuses on user-owned in-game items, real estate, ad digital art that can be traded, or borrowed on the marketplace.
More so, the ‘lend and borrow’ functionalities will allow anyone who holds stablecoins and NFTs. The purpose of these options is to build an income with NFT as a borrower or leverage as a lender. Besides, the owners of HRD token can stake the coin and can get a financial return on their investment.
Of note, Hoard ensures low fees and supports many ERC20 tokens for transactions. The platform supports advanced DeFi liquidity options and money lending through the marketplace using NFTs as collateral.