How do I lend my crypto to blue-chip NFT holders and earn passively?

Liqdnft allows investors to earn passive income on their cryptocurrencies through a decentralized peer-to-peer NFT lending and borrowing mechanism. 

In this video, we provide a step-by-step guide on how investors can use liqdnft.com to lend their cryptocurrencies and tokens to bluechip NFT holders and earn stable yields.

For lenders, Liqdnft offers -

Yields on idle assets, Setting own loan terms and duration, Lending crypto or stablecoins, and getting a bluechip NFT as collateral.

Let's jump right in.

Step 1:

Go to our website, Lidqnft.com, and connect your MetaMask wallet to see your wallet details on the main page including your public address.

Step 2: 

Navigate to the Lend page and explore various loan requests and corresponding collateral NFTs associated with the loan requests.

Step 3:

Browse the listed loan requests. You can also see the collateral NFT associated with the listing. If needed, make use of filter criteria as per your requirement.

The listings show the following key information.

  1. Requested loan amount
  2. The same loan amount in US Dollars
  3. Duration of the loan contract
  4. APY%, the borrower is expecting to pay you as interest
  5. The amount lender will earn in US Dollars as interest
  6. The amount lender will earn in cryptocurrency as interest

Liqd platform also allows you to provide your own terms and conditions of loans, in case you do not fully agree with the listed values.

Step 4: 

Click on the NFT listing of your interest. You will be redirected to the more detailed page of the NFT. As you scroll down the page, you can also see the owner's information and the history of loans borrowers have taken in the past. This will help you to make an informed decision on whether the borrower can repay the loan on time with interest.

Step 5:

Once you select a listing of your liking, you can either send an offer or directly accept the terms and fund the loan. This is entirely up to you.

If you want to accept the terms of the loan as is, click on the Lend button. Any cryptocurrency per loan terms can be used on our platform.

You should now see the loan terms and other details. Click on the Allow Liqd access to your wBTC if you want to proceed with lending your assets. On MetaMask wallet, you will be prompted to confirm permitting Liqdnft to access your crypto assets.

Finally, the button should now be relabelled to Lend wBTC. Click Lend wBTC to lend the asset to the borrower. You will be prompted again by MetaMask to confirm the transaction.

After clicking the Lend button, you will have the NFT locked in our escrow and get the message “Loan Created. NFT has been transferred to escrow, and funds transferred to the borrower.”

The agreed-upon funds will also be transferred to the borrower.

Congratulation! You have successfully lent your crypto assets to the borrower on your terms.

Visit Liqdnft.com to learn more. Follow us on Twitter and join our thriving NFT community on Discord.

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