TechFlow reports that NFT lending platform NFTfi has completed a protocol upgrade, now supporting NFT loans with terms of up to five years (previously capped at one year). The first user has already secured a two-year loan using a Chromie Squiggle, featuring a 10% annual interest rate and a loan-to-value ratio (LTV) of 74%.
The upgrade also adds support for ERC-1155 assets, enabling a broader range of real-world assets (RWA) such as digital art, collectibles, real estate, and intellectual property to be used as NFT collateral.
In addition, the protocol plans to roll out further features by year-end, including loan refinancing and proportional interest repayment options.
Users should note that this upgrade introduces new contract addresses and requires reauthorization of permissions. Existing loans will remain active and conclude on the legacy contracts.
