The First Liquidity Protocol for Non-standard Assets to Be Launched by Pawnfi.com
Pawnfi.com successfully closed a $3M funding deal during the Venture Capital investment round led by Digital Currency Group (DCG), including Animoca Brands, Everest Venture Group, SNZ, Dapper Labs, Polygon, Defi Alliance, Hash key Capital, and 6Block.
Pawnfi has found favor with the venture capitalists probably due to the lending and leasing services for digitally owned assets that it offers. It is a new kid on the block for the leasing and lending market. Pawnfi appraises, liquidates, and provides use cases for NSA, Non-standard assets. The NSAs supported are liquidity provider tokens (LPs), non-fungible tokens NFTs), bundled assets, tokenized rights, and minor cryptocurrencies.
The fast-paced development of metaverse will see the emergence of more NSAs, and it will be crucial to the financial industry how assets are priced, traded, and liquidated. Pawnfi endeavors to stay ahead by allowing asset holders to access diversified cash flow and maximize their asset efficiency. The Pawnfi strategy is, as the name suggests, the pawn concept that taps into the liquidity locked in NSAs. The collateral here is digital, and custody or settlement is decided by the blockchain on which it is hosted, the Pawnfi workflow being managed via smart contract escrow and settlement.
The Executive Chairman and Co-founder of Animoca Brands, Yat Siu, says that Animoca Brands is thrilled to back Pawnfi.com and its innovative interlocking blocks Pawn+Lease+Sale strategy.
It was in December 2020 that Pawnfi.com launched its closed beta to strategic investors, GameFi partners, and NFT KOLs.The feedback helped them complete key iterations and put forward solutions for the liquidity, fair value, and risk control of NSAs.
Pawnfi EVM version supports chains such as ETH, BSC, Polygon, Moonbeam, and Arbitrum. According to Pawnfi Founder and CEO Wesley Kayne, the NSA market that Pawnfi is way larger than the current NFT market. So the liquidity and user base will be much higher than that of standard assets, more so as the metaverse is gaining momentum.
The Pawnfi development team is unique, with elite professionals from the blockchain R&D world, the traditional financial industry, and the game industry. As it stands now, Pawnifi can provide a wide range of asset support, a flexible loan portfolio, and diversified asset realization.