TechFlow news, according to Bloomberg, cryptocurrency lending firm Nexo said it has issued a loan backed by NFTs, using two rare CryptoPunks Zombies NFTs as collateral.
Nexo said the 1,200 ETH loan, worth over $3.3 million, was issued to an unnamed borrower who pledged the Zombie NFTs as collateral. The 60-day loan carries an annualized interest rate of 21%.
The complex transaction was conducted on Arcade, Nexo’s peer-to-peer marketplace for NFT lending, with Nexo hedging its loan risk through investment manager Meta4 Capital.




