MetaLend has deployed on Ronin to borrow and lend against NFTs
Ronin Network recently announced the launch of MetaLend on its mainnet. MetaLend is primarily known for helping Axie Infinity users get loans for in-game assets.
The assets include land and axies directly associated with the Ronin wallets. In addition, MetaLend develops software that lets users lend and borrow NFTs. Since its launch in 2022, the platform has facilitated loans for over 2,000 NFTs.
With the development, Ronin has boosted its progress towards its upcoming goals. The network has gained liquidity using the axies, allowing users to stake land as collateral. As the collaboration progresses, users can even play with NFTs after their collateralization.
In addition, MetaLend will support staked RON and AXS. Ronin even posted an official website post to inform users about the partnership. The newsletter talked about how users can leverage the opportunity and the future possibilities it opens.
However, the network has also requested users to conduct their research on MetaLend before progressing. As stated by Ronin, borrowing too much from the in-game assets is not an intelligent choice.
The network also embedded a demo video to teach how MetaLend operates on Ronin. On the other hand, MetaLend is offering an in-built calculator to help users appraise the value of their Axie-based NFTS.
Ronin also talked about the collaboration in their latest Twitter thread. The tweets explained how Ronin’s move to DPoS and third-party gaming studios is boosting decentralization.
Since the network aims to proceed with the approach, joining hands with MetaLend appears to be a natural decision. Most users expressed satisfaction with the move and expressed joy over Twitter.