You’re probably familiar with Web2 financial products such as digital-only banks (Revolut), investment apps (Robinhood), and fractional shares (SoFi). In Web3, new kinds of financial products are also emerging. They are designed to help NFT consumers in managing, trading, and investing in digital assets.
Today, we’ll examine the top Web3 startups that are enabling the financialization of the NFT economy. Thinki DeFi + NFT = NFTFi. I will cover these key segments: payment, lending, portfolio management, and other subsectors.
Section 1: Key Market Trends
(1) NFTs are becoming rentable:
- NFT holders can earn rental income by leasing their crypto assets, while borrowers can borrow an NFT for a set period of time. This democratizes access to NFT ownership, as NFT renting enables users to temporarily own pricey NFTs without purchasing them. In other words, you rent to own rather than buy to own.
- Companies are building the “Airbnb for blockchain assets” to facilitate listing and transaction of alternative assets.
- Double Protocol is an NFT rental protocol and marketplace for Metaverse and GameFi assets.
- IQ Protocol is a protocol that enables digital asset renting and on-chain subscriptions.
- Use reNFT to list your NFT, the lender sets the price (collateral), length of rental, and repayment.
- Renfter is an uncollateralized NFT leasing protocol designed to give NFT projects access to a range of additional features.
(2) Rise of NFT marketplace aggregators:
- Companies are building the “Expedia for NFT purchase”. With NFT marketplace aggregators, buyers can quickly compare prices and get NFTs from different websites. Buyers can save money on gas by purchasing NFTs across various digital asset marketplaces in a single consolidated transaction.
- Rarible has released an aggregator tool that gives users the ability to buy NFTs from various digital marketplaces.
- Uniswap (acquired Genie.xyz) and created an NFT aggregator to view listings from OpenSea, LooksRare, NFTX, and other platforms. This tool allows users to compare prices and buy/sell NFTs individually or in bulk.
- Gem.xyz–You can put multiple NFTs from various marketplaces into your shopping cart on Gem.xyz and pay for them all at once.
- Flip.xyz is a multi-marketplace for purchasing NFTs from OpenSea and LooksRare.
(3) Non-fungible crowdfunding: