3 ms·
> platforms allow the NFT owner to borrow against them instantly so people can use NFT art and property as a store of value Presumably the lenders are aware of
by PragmaticPulp 6y ago
> platforms allow the NFT owner to borrow against them instantly so people can use NFT art and property as a store of value
Presumably the lenders are aware of the high risk of wash trading in these securities.
If someone takes an NFT and "buys" it from themselves with 100% of their crypto cash, they are now "worth" 2X: They have their original cash, and an NFT that was last priced at 100% of their original cash.