Drops DAO launches Mainnet To Allow Borrowing of NFT-collateralized Loans

The mainnet launch opens up the crypto ecosystem to instant decentralized loans using non-fungible tokens (NFTs), JPEG and metaverse assets as collateral. Drops DAO, a decentralized lending platform, is celebrating the launch of its mainnet, unlocking its ecosystem for users to borrow loans and interact with everything the ecosystem has to offer. Announced Wednesday, the transition to the mainnet will provide users with collateralized loans for NFTs, DeFi assets, and metaverse collections. The launch of the mainnet allows users to lock their assets as collateral, providing the NFT and DeFi ecosystems with additional liquidity and utility. Now, users can easily use their idle NFT, metaverse and DeFi assets as collateral to borrow instant loans through its lending tools. This means users can access capital without relying on centralized entities, enhancing the growth and boosting adoption rates for DeFi and NFT projects. Drops DAO was founded back in early 2021, a time that had seen the NFT and metaverse conversation reach fever pitch. Nonetheless, the idea of using these assets as collateral to borrow loans seemed “unrealistic” to Drops founder, Darius Kozlovskis. “But after major shifts in the market and a tireless year of research and development, we finally arrived at what can become a new financial primitive for NFTs,” Kozlovskis stated. “We’re at the dawn of metaverse finance and are truly excited to be part of it.” ...