NFTfi Launches NFTfi Foundation
NFTfi announced the NFTfi Foundation, which aims to revolutionize NFT credit markets with the launch of a decentralized settlement layer.
The Deets
- Pioneering NFT Finance: Since its 2020 Ethereum Mainnet debut, NFTfi is a leader in NFT liquidity solutions.
- Track Record: More than $500 million settled across 61,000 transactions, serving 5,000 users.
- A Growing Ecosystem: The Foundation focuses on infrastructure for healthy NFT credit markets and ecosystem growth.
- From Council to DAO: Transition plans include the introduction of the NFTfi Council and the evolution towards a fully functional NFTfi DAO.
The Bulk
Since its inception in May 2020, NFTfi has been at the forefront of NFT financialization, from facilitating NFT sales to launching the a liquidity protocol for NFTs. With a track record of more than $500 million in loans, 61,000 transactions, and significant interest earnings for lenders, NFTfi has established itself as a leader in NFT finance.
Now the NFTfi Foundation, a non-profit organization, will be dedicated to developing the necessary infrastructure for thriving NFT credit markets and ensuring the NFTfi protocol and ecosystem flourish in the future. The transition from the NFTfi Council to a DAO underscores a commitment to decentralized governance, a core ethos of web3.
❗Why It Matters
Most often, the creation of a Foundation and repeated mention of "decentralization" means a token is coming.
🎤 Foundation Feedback
The NFTfi Foundation's mandate is to develop the infrastructure necessary for healthy NFT credit markets. It will steward the NFTfi protocol and grow the NFTfi ecosystem until it becomes self-sufficient.NFTfi Foundation
🔜 What's Next?
The NFTfi Foundation's roadmap includes launching the NFTfi Council and evolving towards an NFTfi DAO, signifying a move towards greater community governance and participation.
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