How Bored Ape Loans Destroyed The NFT Market
“NFT loans with low health scores are being liquidated and causing the NFT market to crash. NFT lending platforms such and BendDAO and NFTfi have allowed users to place NFTs as collateral and take out a loans against them. Due to floor price decreases in many collections, this has caused forced liquidation for blue”
As of todays post, the “How Bored Ape Loans Destroyed The NFT Market” video, uploaded by The Bitcoin Express on 2022-08-22 16:54:38, was viewed 2918 times and had 201 likes.
An NFT, non-fungible token, is a non-transferable unit of data that may be sold and traded and is held on a blockchain, a type of digital ledger. Digital media such as photographs, videos, and audio may be connected with several types of NFT data units.
