C.R.E.A.M. Finance, a decentralized lending protocol, is bringing NFTs and the Metaverse to DeFi with section considered one of its better technique to construct the bridges between DeFi, NFT, and the Metaverse ecosystems.
In collaboration with Chainlink, C.R.E.A.M. Finance is now the primary borrowing/lending DeFi protocol to reinforce Axie Infinity’s AXS and Yield Guild Video games’ YGG tokens. After the additional addition of The Sandbox’s SAND and Decentralland’s MANA to their V1 Ethereum markets, it now helps the biggest selection of NFT and Metaverse governance tokens on a unmarried DeFi lending platform.
“NFTS ARE A VERY POWERFUL ONRAMP TO DELIVER MAINSTREAM CUSTOMERS INTO THE WIDER CRYPTO ECOSYSTEM AND IN THE END, TO DEFI. WE’RE ADDRESSING THIS ACTUAL WANT FOR BRAND SPANKING NEW EXPANSION PERMITTING A BRAND NEW SECTION OF CRYPTO HOLDERS TO GET PLEASURE FROM THEIR VIRTUAL PROPERTY. WE’RE EXCITED TO PROPORTION THE PRIMARY DEGREE IN OUR NFT TECHNIQUE AS WE PROCEED TO CONSTRUCT THE IMPORTANT BRIDGES BETWEEN THE ECOSYSTEMS.”
– LEO CHENG, CO-FOUNDER & PROJECT LEAD AT C.R.E.A.M. FINANCE
C.R.E.A.M. Finance now helps six main NFT and Metaverse tokens (AXS, YGG, OGN, MANA, SAND, and RARI) and lets in customers to borrow and lend towards those property to additional bridge the distance between decentralized finance (DeFi) and build up capital potency.
“WE’RE HAPPY WITH THE HAVE AN EFFECT ON AXIE’S MADE IN CREATING ECONOMIES. 50% OF OUR CUSTOMERS HAVE BY NO MEANS USED CRYPTO PRIOR TO WHILST 25% OF OUR CUSTOMERS DON’T HAVE A CHECKING ACCOUNT. WE’RE EXCITED TO LOOK THIS NEW AXS VALUE ORACLE FROM CHAINLINK AND C.R.E.A.M. FINANCE AND WE STAY UP FOR THE GOODS IT IS GOING TO ALLOW.”
– JEFFREY JIHO ZIRLIN, CO-FOUNDER OF AXIE INFINITY
Lately, there may be sporadic reinforce for NFT tokens and the wider NFT ecosystem throughout the DeFi trade. This creates hindrances to expansion as customers don’t seem to be in a position to completely make the most of their property: Composability of NFT tokens is proscribed, reducing capital potency, and NFT holders themselves are not able to leverage the price in their asset to fund additional expansion.
“OUR GUILD PARTICIPANTS ARE PRODUCING VITAL YIELD THRU PLAY-TO-EARN VIDEO GAMES, AND NOW, C.R.E.A.M. HELPS THEM UNENCUMBER HIGHER APPLICATION FOR HIS OR HER PROPERTY WITHIN THE METAVERSE. THAT IS THE DEMOCRATIZATION OF FINANCE IN MOTION, BREAKING DOWN LIMITATIONS TO EMPOWER PARTICIPATION FOR A BRAND SPANKING NEW SECTION OF CRYPTO CUSTOMERS.”
– GABBY DIZON, CO-FOUNDER, YGG
Expanding reinforce for the borrowing/lending of NFT tokens performs a crucial function in expanding the capital potency of the ones property and bringing price to the customers and token holders inside the ones NFT ecosystems. Step one was once decentralized value oracles, which Chainlink constructed for each AXS and YGG enabling the list of those property on C.R.E.A.M. Finance