Zash, an enterprise-grade blockchain indexer, has introduced a partnership with Nexo. As a part of the partnership, Nexo will combine Zash into its platform so as to develop new valuation and pricing instruments for NFTs.
The combination is a part of Nexo’s broader push to extract extra liquidity from the crypto market and develop its providing. In December 2021, Nexo entered the non-fungibles house with the launch of its NFT Lending Desk.
The service enabled customers to unlock instantaneous liquidity from their NFT holdings by way of a white glove service that provided devoted account managers, no liquidations earlier than maturity, and no credit score checks. Nexo has since offered the world’s largest NFT-backed mortgage price $3.3 million. Its newest NFT-backed price $1.3 million was issued in opposition to two uncommon Mutant Apes.
Cryptocurrency lending has turn into commonplace up to now few years, rising from a distinct segment product to a full-grown market. The onset of NFT lending has additional expanded the market, with the continued adoption of NFTs anticipated to develop the market to over $230 billion by 2030.
Kiril Nikolov, the pinnacle of DeFi technique at Nexo, stated that having real-time mark-to-market capabilities are essential to creating the NFT lending house extra environment friendly and accessible. Zash introduced itself as an ideal alternative for a valuation supplier attributable to its velocity, accuracy, and reliability.
“The financialization of NFTs is inevitable as NFT holders search to unlock liquidity in these difficult markets,” stated Parit Patel, the CEO and co-founder at Zash. “The NFT and DeFi markets proceed to turn into additional untwined and we’re thrilled to be working with a longtime model in cryptocurrency lending in its efforts to develop its capabilities in NFT pricing, valuation, and lending.”
Within the coming months, the Zash staff will likely be working with Nexo to supply clear, labeled, and listed NFT knowledge to feed its valuation and pricing fashions. The corporate stated that it was presently “in dialog” with different main exchanges, marketplaces, and lenders to additional prolong the attain of its knowledge product providing. As its product continues to develop and the NFT house continues to diversify, Zash can even be increasing to new chains.
