Wemade 'Nile' NFT-based DeFi service 'NFT Pie' officially launched
[Inews24 Reporter Park Ye-jin] WeMade (CEO Jang Hyeon-guk) launched the NFTFi (NFTFi) service on the Wemix 3.0-based platform Nile on the 22nd.
NFTFi is an NFT-based person-to-person DeFi (decentralized finance) service. We plan to provide a loan lending function using NFT first, and expand the service by adding swap in the future. NFTFi supports all NFTs sold in Nile's marketplace, including the NATE NFT of 'Nate Station', which was introduced in March.
According to the company, lending and leasing are conducted through an auction. Lenders can borrow Wemix or Wemix Dollar using NFT as collateral. Lenders who want to lend their Wemix and Wemix Dollars to others can check the detailed loan conditions of the products in the loan application list and make a bid.
The final bid is awarded to the bidder who presents the best conditions during the loan application period, and a contract is automatically concluded at the same time. NFTs set as collateral are locked up until the loan is fully repaid, and ownership is transferred to the lender if not repaid.
A WeMade official said, "Nile plans to promote the value of NFT as a financial asset through NFTFi, and at the same time contribute to the expansion of the sustainable ecosystem of Wemix 3.0."
