Over the past month or so, the NFT marketplace battle has taken an unexpected turn, with the theme of NFT lending taking center stage. Now, in order to add Solana to the party, magic eden We have partnered with a leveraged trading platform, roboboxlaunching a neat new “buy now, pay later” feature.
Currently in a private alpha stage where users can join via their website, Robox will allow traders to purchase Solana NFTs in Magic Eden with as little as a 30% down payment. Through this scheme, selected NFTs are essentially frozen in the owner’s wallet for the duration of the loan. However, the utility benefits of Discord’s private access, airdrops, whitelist assignments, etc. still remain.
Upon underwriting the loan, the new owner will be faced with three options regarding the future of the NFT. First, you can choose to repay the loan and its interest. This will effectively unfreeze the NFT and allow full access to the token. Second, you can choose to sell your NFTs and pay the balance with the proceeds. Alternatively, the course can be run with the agreed terms as they are. This allows the Robox platform to “auto-sell” the asset and recover the funds.
Robox users can now purchase the NFTs listed below. @Magic Eden At only 30% of the price!
You can also list your NFT collateral through ME and sell it instantly.
How does it work? Let’s dive in (1/8) pic.twitter.com/UAiP50fuNm
— Robox: NFT Leveraged Trading – Solana Grizzlython (@Robox_Fi) May 29, 2023
Robox and Magic Eden enable test drive options for NFTs
The new system will act like a test drive feature for NFTs, so it will be slightly different from lending platforms like those offered by Blur and Binance. As a result, people who are interested in a particular collection but are hesitant to jump in can now try it for a fraction of its value while enjoying the benefits associated with that collection.
Through this effort, Robox has also added a $SOL staking feature. This will allow those on the other side of the fence to provide liquidity to the platform while earning his APY for trouble.
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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.
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