Loan general question

[normanhot]

Hello everyone

can i use Azuki NFT as collateral which is worth 0.4 ETH ?


 

[Charles-Tim]

What tells you it will worth 4 ETH? I see NFTs to benefit the well known people that are very rich in the world just like the art works. You may set the price to 0.4 ETH but that does not mean it is worth the price until you see a buyer for it at the price.

I have not seen anyone that accept NFT offer as a loan collateral on this forum. The chance of you see anything that will accept the offer on this forum is very low. But if you do that, you are doing nothing wrong.

[DaveF]

Expanding on what Charles-Tim said. There are no 'rules' as to what is valid collateral. Every lender has their own opinions as to what they will accept and why and how they value it. What it is worth is not up to you to decide, it's what the lender thinks it's worth.

That seems to be one of the issues that comes up a lot. You may think something has value but to a person making loans they might not think that. But since it's their money it's up to them. Even with mainstream coins.

-Dave

[Asclepius34]

Hello everyone

can i use Azuki NFT as collateral which is worth 0.4 ETH ?


 

it depends if guy you are borrowing money from wants to accept NFT as collateral. And you need to have proofs (people who is ready to buy NFT) for your certain price, how can I be sure that your NFT is really worth 0.4ETH if you don't have any proofs.

[FinneysTrueVision]

What tells you it will worth 4 ETH? I see NFTs to benefit the well known people that are very rich in the world just like the art works. You may set the price to 0.4 ETH but that does not mean it is worth the price until you see a buyer for it at the price.

I have not seen anyone that accept NFT offer as a loan collateral on this forum. The chance of you see anything that will accept the offer on this forum is very low. But if you do that, you are doing nothing wrong.

The floor price on OpenSea is around 4.9 ETH currently.

You can use whatever collateral someone is willing to accept. The liquidity for NFTs is not that great, so you might have to settle for a loan valued significantly lower than your NFT. Even though there are not many sales, there are still people buying NFTs from this collection for thousands of dollars, so there might be somebody willing to offer you a loan.

[JeromeTash]

OP, there are some platforms that can accept your NFT as collateral and provide a loan to you. I have seen people discuss them in the past, but I won't lie to you. I have never used them since I am not a fan of NFTs, so I don't want to sound like a shill. You might want to DYOR, ask around before using any.
You are less likely to get a loan here using NFTs as collateral since having them sold isn't as easy as selling altcoin coins that are already listed in exchanges.