Lending markets

Arcade launches as a first-of-its-kind platform enabling liquid loan markets for NFTs

Arcade launches NFT lending platform hot on the heels of the filler $1.25M on loan from Genesis.

SAN FRANCISCO, January 31, 2022 /PRNewswire-PRWeb/ — Arcadea DeFi marketplace and lending platform that enables the financialization of NFTs, is officially launching after recently closing a $15 million Series A Increase with investments from Pantera Capital, Castle Island Ventures, Eniac Ventures, Golden Tree Asset Management and several other notable investors. Arcade is also launching by coordinating the largest on-chain NFT-backed loan to date: a $1.25M art basket loan funded by Genesis for well-known art collector Chris Ciobanica (aka Silver Surfer).

Arcade is an innovative peer-to-peer lending marketplace that allows NFT owners to unlock liquidity on one or more NFTs on the Ethereum blockchain. Lenders who hold stablecoins or ERC20 tokens can participate in a new source of DeFi yield by taking out fixed-rate term loans secured by borrowers’ NFTs. The platform uses the pawn protocola tested and audited smart contract protocol specializing in escrow of high-value assets on Ethereum.

“Our team has worked tirelessly to ensure that Arcade is the most intuitive and useful platform of its kind, so we are more than happy to announce its full public launch. Arcade is a platform Multi-product NFTs and a DeFi primitive that allows users to turn idle NFT assets into usable cash,” shared Gabe Frank, CEO of Arcade. “Arcade is continuously focused on creating primitives, frameworks and applications that enable the growth of NFTs as an asset class.”

Arcade is in private version with the protocol containing more than $15 million in “blue chip” NFTs locked up in escrow and $6 million the volume of loans. An institutional OTC desk arranges high-value loans using machine learning and social sentiment analysis to assess NFTs and enable users to get the most out of their assets.

For media inquiries, please contact Sarah Cohen at (310) 260-7901 or sarah(at)melrosepr(dot)com

About Arcade
Arcade is the leading DeFi marketplace and infrastructure for loans secured by NFT collateral, where lenders and borrowers come together to turn idle holdings into liquid assets. Bridging the gap between the traditional art market and a new class of digital assets, the Arcade OTC office independently assesses, validates and curates NFT collections for institutions, DAOs and high net worth collectors. Lenders gain access to a new source of yield and borrowers gain insight into the true value of their assets. Asset owners retain all rights and access to collateral on Arcade and the platform is not a custodian. As an open-source DeFi primitive, Arcade also allows developers to build on the platform, supporting the broader financialization of this new asset class.

Media Contact

Sarah CohenMelrose PR, (310) 260-7901, [email protected]

SOURCEArcade