As the fastest-growing cryptocurrency trading platform, BitYard held an AMA with Kyle Kim, the COO of Alpha Quark yesterday. As NFTs become an intangible asset class, Alpha Quark believes the ecosystem beyond the current NFT culture will expand widely. This means that Alpha Quark needs to provide more value-added services, such as lending or De-Fi-related services. Alpha Quark has found another way to blaze a trail to expand and strengthen the value of NFT.
Alpha Quark provides an NFT marketplace platform service, as well as a 3D art gallery where users can mint, sell or buy NFTs, and artists can use their platform to financialize ideas and artworks. Furthermore, Alpha Quark provides an NFT collateral lending protocol service. NFT Collateral Protocol is a simple p2p marketplace for collateralizing NFT loans. It allows borrowers to use assets for loans, and lenders can make loans in exchange for interest.
Latest Fintech News: Kora, the Personal Finance App Just for College Students, Reaches 100,000 Active Users on Budgeting Tool
NFT collateral lending service is a unique and innovative service to expand the NFT ecosystem and a valuable attempt to strengthen the value of NFT. NFT plus the concept of loan and mortgage allows NFT holders to lend or borrow funds without selling NFT. This service is suitable for those who own NFTs but do not plan to sell NFTs because these users usually believe in long-term value, so will not sell NFTs. These services allow NFT holders to utilize their NFT assets to maximize benefits.
Latest Fintech News: Astra and Visa Partner to Enable Faster Funding for New Accounts
Alpha Quark tries to integrate multiple services in the metaverse, users can enjoy the NFT value and Alpha Quark Token (AQT) backed by IP in 3D art galleries or 3D games. Through these efforts, AQT can be used for various activities and have more utility in Alpha Quark’s ecosystem. At present, users have been able to purchase AQT tokens on the BitYard platform.
NFT will be an interesting digital asset, not limited to maniac cryptonians. Then NFT can be used as collateral for a loan because it has economic value that everybody agrees on. This is what Alpha Quark believes and why Alpha Quark developed P2P NFT collateral lending service, said Kim.
Latest Fintech News: First National Bankers Bank Announces Partnership with Aptys Solutions
[To share your insights with us, please write to sghosh@martechseries.com]
