NFT collectibles valuation is quite similar to the valuation of real-world assets collectibles. Due to this, high-value NFT items are most suited for sale via the auction market. This has opened an intrinsic area of NFTs of low liquidity. Thus, NFT owners are facing various difficulties with their short-term funding needs with the custody of NFTs.
A Cross-Chain NFT Auction And Loan Platform:
A cross-chain NFT auction and loan platform is an advanced platform that focuses on high-value NFT content and offers p2p NFT auction and loan services. It is generally preferred to be built on Binance Smart Chain, but as we know, NFTs are Ethereum friendly and can be built on other networks as well. Construction of such a platform comes with a goal to build a market where artists around the world with their unique talent can reach buyers of the NFTs and fulfil their short-term needs.
Governance Token For The Platform:
Governance tokens as per the blockchain network used can be developed. It might include BEP-20 token standard, ERC-20 token standard, etc. These tokens are called governance tokens because the tokens holders get certain rights that include but are not limited;
- As a token holder, you can propose and vote for the development of the platform.
- As a token holder, you can also earn various rewards.
The revenue generated from the platform is used for future governance activities of the platform.
NFT Auction Market:
Auctions are the place where real-world assets always find their real place and value. This is often addressed as subjective evaluation, where a most accurate method is applied to discover the price of the item and gain ownership of it. The same logic and concept have been applied to Non-Fungible tokens, especially to those that have a high value. Currently, there are a few markets that offer NFT auction services.
But, such markets are different from a usual NFT marketplace, where NFTs are bought and sold very easily, just with a mutual understanding between both parties. But to prepare and create an NFT marketplace for auction takes a lot more time for the selection and preparation process to execute the NFT auctions. Due to which only a smaller proportion of the NFT buyer and seller population is covered.
The NFT contents are tokenized and monetized on different public blockchain networks. Due to which the NFT market is fragmented. The NFT content is built on one blockchain network and sold on another blockchain network’s ecosystem.
Therefore, a cross-chain NFT auction platform is the best solution for it. It attracts a huge number of high-value NFT contents at the auction market to get the recognition and monetary value they deserve. The platform is designed in such a way that it allows the content creators or NFT owners to easily submit their NFT creations for auctions. Once the platform admin appraises and accepts your proposal, the entire auction process is automatically set and executed.
NFT Loan Market:
Liquidity is the main problem behind every aspect of the business. The same is the case with NFT collectibles. Every NFT owner wants to get a huge return on their investment in NFT. Therefore, they have to wait for a long-term before reselling them. Nevertheless, the owners’ fund gets stuck in the NFT for a long period of time in wait for profit. Tackling the liquidity hurdle is one of the biggest breakthroughs in the futuristic development of the NFT marketplace.
The concept of a lending loan is quite similar to the concept of the traditional concept, where real-world assets are used as collateral. Here also, Non-Fungible Tokens can be used by their respective owners as collateral to get loans, which will act as a pillar of great support to the NFT owners.
At Cryptocurrency Exchange Script, we develop a cross-chain p2p NFT loan platform that is designed especially for addressing the borrowing needs of NFT enthusiasts.
What Makes The NFT Lending Platform Different From The Normal Lending Platform?
If a comparison between normal p2p lending platforms is made, it can be noticed that the NFT lending platforms are different because the NFT asset value is subjective as compared to the real-world assets. We design the lending platform in such a way that it gives liberty to lenders to choose the NFTs as per their requirements on certain terms with the borrowers.
Why Is Cryptocurrency Exchange Script Your Preferred Partner For Developing A Cross-chain NFT Auction And Loan Platform?
Cryptocurrency Exchange Script is a leading company in the field of blockchain technology and cryptocurrencies. We have a keen eye to acknowledge the upcoming trends in the market. We are one of the early adopters of the NFTs. We have developed and delivered various NFT solutions and services to our clients around the world.
Our products and services are entirely customizable, scalable, and adaptable as per your business needs and requirements, and you can get your Cross-chain NFT auction and loan platform that can reap your maximum benefits. Get in touch with us and request a free demo now!