Maven 11 Capital is thrilled to announce our participation in the seed round of NFTfi. NFTfi is a peer-to-peer lending protocol that allows NFTs to be used as collateral. It is positioned at the intersection of non-fungible tokens and decentralized finance, both ecosystems for which we foresee tremendous growth.
NFTfi is currently live on mainnet, although in beta, and has facilitated roughly USD 1.5M in loans. The funds raised will be used to further mature the platform, ramp up development and deploy a DAO to govern the protocol.
“NFTs are a foundational building block of the emerging virtual economy. Making digital items truly ownable for the first time unlocks a world of possibilities that we are only just beginning to explore. With this investment, and more importantly, the phenomenal people who are backing us, we will be at the forefront of the financialisation of NFTs”- Stephen Young, Founder and CEO, NFTfi
We envision NFTs becoming a large asset class over the next decade. It will allow for true ownership and will change the way we utilize it. For instance, it allows for an entire new way of interaction between creators and collectors. The financialization of this rising asset class feels inevitable and NFTfi is providing the right product for doing so.
“NFTs are quickly rising as a new type of asset in which we can capture the value of any (unique) form, content or ownership. Further utilisation of this, through using it as collateral, is an inevitable step. As the digital ownership economy grows, so does financialization of NFTs. NFTfi is perfectly positioned to capture this market and we are proud to be backing Stephen and his team.“ – Balder Bomans, Managing Partner Maven 11 Capital
We look forward to working with NFTfi to add further utility to NFTs as an asset class and are happy to announce our first investment in the NFT space.