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Description

Efinity represents the future of blockchain technology for NFTs, offering a scalable, decentralized, and cross-chain network aimed at making non-fungible tokens accessible to a broader audience. Developed by Enjin, this innovative blockchain is built on the Polkadot framework, catering to the pressing needs of businesses and developers who require a contemporary, user-friendly platform for NFTs. Despite the advent of Ethereum and various efforts to create infrastructure supporting tokenization, the demand for a superior solution continues to grow. Currently, creators face burdensome fees, rigid smart contracts, and a lack of seamless interoperability, which stifles creativity and innovation in the space. As a result, NFT adoption remains largely confined to dedicated crypto enthusiasts, while everyday users find little incentive to engage with these digital assets. Moreover, the design of existing blockchains means that actual users often receive no tangible benefits from their participation, as the rewards generated primarily go to miners instead. Consequently, a new approach is not just desired but essential for fostering a thriving NFT ecosystem.

Description

You can use your NFT assets as collateral to secure a loan or lend to others using their non-fungible tokens. Any ERC-721 token can be utilized for this collateralization process, allowing other users the opportunity to provide you with a loan. Upon accepting a loan, the funds in ETH will be disbursed from the lender's account directly to you, while your NFT will be securely locked within an NFTfi smart contract. Once you fulfill your repayment obligations, the asset will be returned to your possession. However, if you fail to repay the total amount by the specified due date, the NFT will be transferred to the lender. Engaging in providing small, short-term loans to others can yield enticing returns, but it is crucial to thoroughly understand the assets involved in lending and to be prepared to accept the collateral in case of default by the borrower. Additionally, assessing the risks associated with each loan will help you make informed decisions about your investments.

API Access

Has API

API Access

Has API

Screenshots View All

Screenshots View All

Integrations

Asset Vantage
Dwellir
Ethereum
Flow
MetaMask
MetaStreet
Microsoft 365
Microsoft Azure
Polkadot

Integrations

Asset Vantage
Dwellir
Ethereum
Flow
MetaMask
MetaStreet
Microsoft 365
Microsoft Azure
Polkadot

Pricing Details

No price information available.
Free Trial
Free Version

Pricing Details

No price information available.
Free Trial
Free Version

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Deployment

Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Customer Support

Business Hours
Live Rep (24/7)
Online Support

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Types of Training

Training Docs
Webinars
Live Training (Online)
In Person

Vendor Details

Company Name

Efinity

Founded

2009

Country

Singapore

Website

efinity.io

Vendor Details

Company Name

NFTfi

Founded

2020

Country

South Africa

Website

nftfi.com

Product Features

Product Features

Alternatives

Alternatives

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