Arcade Launches NFT Lending Platform as Blue Chips Hold Strong

Posted on by American Coins & Gold

Arcade Launches NFT Lending Platform as Blue Chips Hold Strong
Lending platform Arcade has introduced on Pawn Protocol in a bid to bring liquidity to the non-fungible token (NFT) market, the company announced Monday.The platform is a peer-to-peer marketplace that allows users to access fixed-rate loans collateralized by their Ethereum-based NFTs, using an escrow system.Arcade says it has more than $15 million locked up in blue chip NFTs and $6 million in loan volume, with average loans of about $350,000, a representative told CoinDesk. (Blue-chip NFTs are considered to be those among the highest valued in the market, like Bored Ape Yacht Club, CryptoPunks or Doodles.)The launch comes just a…