In a historic financial move, investor @seedphrase secured a record-breaking loan of $2.75 million using his unique CryptoPunk #8348 as collateral. This transaction, facilitated by GONDI, marks the largest on-chain loan against any non-fungible token (NFT) to date. The loan has a term of 180 days with an annual percentage rate (APR) of 17% and an origination fee of 41,250 USDC. This development illustrates the evolving role of NFTs, particularly CryptoPunks, as significant financial instruments rather than mere cultural artifacts. GONDI has also reported reaching $100 million in total loan volume, further emphasizing the growing acceptance of NFTs in the financial sector.