NFTBank partners with X2Y2 to supercharge the NFT loan module

NFTBank is ready to implement its pricing system for digital collectibles in one of the largest marketplaces on the Ethereum (ETH) network, X2Y2. With this integration, both artists and commissioners will benefit from more accurate NFT’s valuation.

NFTBank to promote NFT valuation for X2Y2 loans

According to the official announcement shared by the NFTBank team, X2Y2 Loans, a peer-to-peer (P2P) lending platform from NFT marketplace X2Y2, is integrating its valuation solution.

We are pleased to announce that we have joined forces with @NFTbank_ai for their real-time assessment of individual NFTs in X2Y2 NFT loans. 🥳

— X2Y2 (@the_x2y2) 12 December 2022

Launched in September 2022, X2Y2 Loans allows two parties to negotiate the details of the loan, including the type of NFT to be secured, LTV, interest rate, duration of the loan and so on. As such, NFT holders may pledge their assets as collateral to avoid selling them during a bearish market.

Since the pricing of this or that NFT is of crucial importance to this economic design, NFTBank uses ML-powered technology to provide market participants with NFT prices; 90% accuracy is guaranteed.

NFTBank’s model browses all open information about NFTs such as minimum price, rarity and bid/ask distribution; the project has already published information on 5,000 NFT collections.

With this data collected through the API, traders and commissioners can build more sustainable liquidity management strategies by knowing the exact price of each NFT.

X2Y2 strengthens its position in the NFT sphere

In Q3 2022, X2Y2 introduced a number of interesting concepts to the NFT segment. As reported by U.Today earlier, in August 2022, it made headlines by changing its royalty policy.

Thanks to its user-friendly interface and innovative architecture, X2Y2 Loans jumped to the top 3 NFT-centric loan products in two and a half months since its launch. It collected over 8,000 Ethers (ETH) in net loan amount.

Backed by Hashed and Digital Currency Group, NFTBank broadcasts data to a couple of market heavyweights and new generation DeFis, including the likes of Chainlink, NFTfi, Pine, Stater and Unlockd Finance.