
MetaStreet has announced a groundbreaking $10 million loan for 60 CryptoPunks, marking the largest NFT loan in history. This financial venture was made possible through the use of Liquid Credit Tokens (LCTs) and involved more than 5,000 lenders across two different risk levels. The loan not only highlights the growing interest and confidence in NFTs as valuable assets but also showcases the potential of decentralized finance (DeFi) platforms to facilitate large-scale financial transactions. Additionally, the loan is supported by $15 million of secondary liquidity provided by platforms like CurveFinance and BLAST_L2. This move by MetaStreet is seen as a significant step forward for the NFT finance sector, opening up new possibilities for NFT lending and further pushing the boundaries of what's possible in the broader NFTfi space.

Big months in NFT lending from both NFTfi and Arcade. -NFTfi saw a 22% spike to $12M in volume -Arcade saw $12.5M in volume and an 80% spike in weekly loan volume Bull market + decentralization campaigns seem to be working... https://t.co/Sva7tvJ13X
Easy to see volumes 10x from here with rising ETH and collateral value. The own-able internet via NFTs will be large and mostly financialized. Arcade February loan stats (ATHs): total volume: $12.5m average size: $25k average APR: 23.5% Active borrow: $25.5m https://t.co/HbXXzwxbIA
Latest CryptoPunk https://t.co/Tw2JL4zYwH loans (initiated 3 days 5 hours 10 minutes ago) https://t.co/XoO6FhbEhl