Morning Minute | Real Estate Meets NFT Finance
TylerD's Market Summary
A $43T asset class is coming to NFT finance. Plus catch up on a huge airdrop day for the Solana ecosystem.
💰 Real Estate Loans On-Chain with NFTs
Everything until now with Real World Assets (RWA's) and NFT finance has been a warmup.
The world's largest asset class is about to come on-chain & into NFTfi.
Real estate - a $43.5T market in the U.S.
All because of NFTfis groundbreaking new partnership with Fabrica.
What Happened?
Yesterday, NFT lending protocol NFTfi shared a major new partnership with Fabrica, bringing real estate into NFT lending.
Fabrica is a leader in tokenized real estate w/ over 200 properties on its platform.
Their platform, operational in all 50 states, enables users to manage real estate transactions (buy, sell) through digital assets.
They have been around since 2018 and have worked closely with regulators as their product and platform has evolved.
And they're backed by big investors like Mark Cuban, Sound Ventures & OpenSea.
NFTfi complements Fabrica by providing a blockchain-based lending platform widely trusted within web3 and with substantial transaction volume ($500M+).
NFTfi’s deep lender-side liquidity and smart contract settlement layer provide the integration needed for a major unlock.
How It Works
Fabrica landowners can take out an instant loan against their real-estate assets without leaving the Fabrica UI.
This is powered by loan offers made by NFTfi lenders.
Those NFTfi lenders can browse available plots of land on the native NFTfi platform as well as Fabrica.
It's a new liquidity unlock for landowners, and a new opportunity for lenders to get exposure to a new asset class.
All within a streamlined digital framework.
Why It Matters
Anyone who has gone through the real estate lending process knows its issues.
Mountains of paperwork. Several players to coordinate with.
It's time-consuming and outdated.
But not anymore, thanks to NFTfi and Fabrica.
Enter Fabrica CEO Federico Pomi, on why this matters:
“Both Fabrica and NFTfi are in the business of empowering users with more flexibility and utility by providing superpowers to assets on-chain.
The ability to unlock capital stuck in real world assets (RWA) is the most important upgrade to a whole asset class, and furthermore the best opportunity for the crypto industry to prove a tangible and much needed use case and onboard users at scale.”
This is an important first step in bringing a new sector of RWAs into NFT finance.
There is a long way to go to bring real estate fully onchain, and to integrate NFTs. But we have to start somewhere.
Read more about the groundbreaking new partnership with NFTfi's announcement, and begin to explore Fabrica's platform.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- Trading volume on Wednesday held steady at $28.7M; the leaderboard was mostly red, with most leaders down 2-5%
- Gaming projects once again led top movers, with Seedworld Vanguards (+98%) Rumble Kong League (+86%), and Sugartown Oras (+54%) leading the way
- Rud Radio NFTs jumped 42% to a 0.31 ETH floor (+120% on the week), as the team unveiled a rebranding "Rug Radio: Own The Narrative"; their PFPs are up 170% on the week at 0.05
- Mad Lads fell 4% on the day to a 208 SOL floor, though several other SOL NFTs saw 50-90% rallies ahead of today's JTO airdrop
- Forbes Web3 announced that it will begin collecting NFTs as a commitment to the space, and they started that collection with a Trademark by Jack Butcher
- Jack Butcher shared a new site oviators.com which has an Opepen builder and is seemingly tied to previously teased Opepen-style aviator glasses
- Sotheby's introduced its 1st-ever Ordinals auction featuring Bitcoin Shrooms, which have seen bids near $50k in early action
- Pudgy Penguins introduced new Igloo Candles in their Igloo Shop on Wednesday
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors mixed on the day; BTC -1.85% at $43,250; ETH -0.58% at $2,250; SOL +1.75% at $64.44
- Rumors of a Coinbase listing for $BONK sent the coin up another 23% to a $520M marketcap
- JP Morgan CEO Jamie Dimon said that he would "close down" crypto if he was the U.S. government
- The JTO airdrop is coming today on Solana and will be listed on Coinbase and Binance; perp markets have the coin trading as high as $0.85
- VeeFriends announced a new "Accountable Ant Classic Nylons" collaboration with Reebok following its Aspiring Alpaca sneaker
🚀 NFT Total Volume
- BAYC (2,203 ETH, 29.18 ETH Floor)
- Pudgy Penguins (1,359 ETH, 8.31 ETH)
- MAYC (628 ETH, 5.59 ETH)
- DeGods (512 ETH, 3.22 ETH)
- Azuki (296 ETH, 6.25 ETH)
📈 NFT Floor Price Increase
- Seedworld Vanguards (98%, 0.19 ETH Floor)
- RumbleKong League (86%, 0.28 ETH)
- Sugartown Oras (54%, 0.37 ETH)
- Rug Radio Genesis (42%, 0.31 ETH)
- Shrapnel Operators (39%, 0.34 ETH)
🗓 Upcoming NFT Mints and Events
Today is a busier day of drops as Miami's Art Basel event really kicks off.
A highlight is the Verse Dimensionality fair / sale live in Miami. It features several artists throughout the day, including Anna Lucia, Licia He, Emily Edelman, Zach Lierberman and more.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Verse x TENDER (many artists) (10:00 a.m. ET)
- Marvel's Uncanny X-Men on VeVe (11:00 a.m. ET)
- King Xerox - Revolution (6:30 p.m. ET)
Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email tyler.warner@luckytrader.com.
