TechFlow News — Gondi, an NFT lending protocol, announced its launch on Tuesday alongside a $5.35 million seed funding round. The round was co-led by Hack.vc and Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, 6th Man Ventures, and others.
According to the announcement, Gondi enables lenders and borrowers to leverage the value of blue-chip NFTs on the Ethereum blockchain. Lenders can deposit their NFTs on the platform to earn fixed-rate yields, while borrowers can use NFTs as collateral or within NFT-based financial applications. Gondi states that borrowers on its platform pay interest only for the duration of their outstanding loans. Additionally, borrowers benefit from instant refinancing, ensuring they always receive optimal loan terms.
