Drops Prepares for The Testnet Launch of Its Highly Anticipated NFT Lending Platform

Drops, a platform that facilitates loans for NFTs and DeFi assets, has revealed the first phase of the three-phase rollout of its NFT Lending platform. Per the official release, the Drops NFT lending platform offers users options to use their NFTs as collateral in return for access to trustless loans from Drops’ permissionless NFT lending pools. The NFT lending platform will be first launched on the testnet, flagging off the journey towards the eventual mainnet inauguration. Interested NFT owners can drop in their applications to join the testnet and witness history in the making. The second phase will involve security audits before the final stage kicks off with the mainnet rollout. Once the NFT Lending platform is live, it will play the critical role of bridging the liquidity gap within the NFT ecosystem. Darius Kozlovskis, Founder & CEO of Drops, notes, “NFTs have become the centre stage of crypto discussions in the past few months. However, the latest crypto market crash revealed underlying liquidity issues in this upcoming niche. The Drops NFT lending model is designed to introduce liquidity in NFT markets by bridging the metaverse world with Decentralized finance. In doing so, we believe that NFT owners can derive more value from their idle assets.” With the DeFi market expanding at an unprecedented rate, Darius is optimistic about the new NFT Lending platform. He adds, “We are excited about the future of the metaver...