Bami Protocol to Develop The All-in-one NFT Pawn Shop

1/17, 9:49 AM (Source: GlobeNewswire)

Bami Protocol is about to launch its NFT Pawn Shop with appealing features that promise to provide the best benefits and investment opportunities to users.

Singapore, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Bami Money Pte. Ltd. Crypto undoubtedly witnessed the biggest innovation as its market value hit $2.3 trillion as of December 17, 2021, reported by CoinGecko. This market experienced impressive growth in the past year, especially the booming of NFT items. Crypto needed nearly a decade to penetrate the mainstream, but NFTs only took a few years to capture the community’s attention. NFT was the hottest topic and frothiest market in the last year with sales volumes increasing by 100x. Thus, many projects seek to offer great services to crypto investors and traders alike.

As NFT collectors now become more active, they tend to seek new ways to leverage their assets through DeFi mechanisms like collateralized lending, fractionalized assets, staking, etc. Bami conceived the idea and is about to launch an NFT Pawn Shop with attractive attributes. The crypto market offers users countless opportunities to make money, therefore, the source of investment capital plays an essential role for users to grasp these chances. Consequently, Bami Pawn Shop was established with the goal of allowing users to flexibly obtain capital sources by utilizing their NFTs without losing ownership.

The All-in-one NFT Pawn Shop integrates a variety of attractive features

Led by the team of experts in the fields of blockchain, finance, and technology, Bami is an ideal platform for NFT and digital asset collateralization, which offers various features such as NFT-backed loans, Clearance market, Launchpad, Lending, and Membership. Accordingly, users can seek for new potential NFT projects to invest in, become VIP members with a myriad of benefits, or generate incomes by lending, staking, and farming. NFT Pawn Shop is identified as a core element of the ecosystem. The pawn shop focuses on adding value to the NFT market and providing optimized financial solutions for users. NFTs are typically difficult to use in a productive manner, in contrast to fungible tokens, which can be easy to stake, lend out, or put to work for generating yield. Hence, the pawn shop aims at enabling users to mortgage their NFTs in exchange for stable coins such as USDT and BUSD that can be sold for tangible currency. In case users need finances but do not want to sell their assets, it is perfect for them to use NFTs as collateral.

Clearance Market offers promising opportunities to invest in NFT items

The platform is targeted at not only NFT-backed loans but also the Clearance Market where unique NFTs can be purchased at a special price. In case users are unable to redeem their mortgaged NFTs on the due date, these assets will be liquidated and then sold in the clearance market at a more favorable price than the market. Those who are interested in liquidated NFTs can buy these items to resell at higher prices or continue to use them as collateral for financing purposes.

Bami Pawn Shop is set to be the world’s simplest NFT Pawn Shop. It will also shortly launch a P2P lending feature where the borrowers and lenders will have more rights when using NFTs as collateral than in a traditional financing arrangement.

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