Real-world assets merging with non-fungible tokens (NFTs) are seen as a potential catalyst to revive the struggling NFT lending sector. DappRadar, a blockchain analytics platform, reported a significant drop in NFT lending market volumes, down 97% from its peak in January 2024. Analyst Sara Gherghelas highlighted the need for new catalysts like real-world asset NFTs to reignite the sector. The report also mentioned a decline in borrower activity and loan sizes, indicating a shift towards more conservative borrowing practices. Despite the challenges, Gherghelas remains optimistic, suggesting that platforms are evolving and diversifying to adapt to the changing landscape. The article also touches on the overall decline in the NFT market and the need for innovative solutions to drive growth in the lending sector. Read more AI-generated news on: https://app.chaingpt.org/news
Reviving NFT Lending Sector With Real-World Assets
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