The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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From: S. maltophilia	8/22/2023 4:07:03 PM
	of 119357

More madness, must be a day that ends with a y How is the market for non-fungible tokens going? NiftyApes, an NFT lending protocol backed by Coinbase and Variant, is the first to bring Seller Financing to the world of NFTs. … The seller lists an item for sale on an NFT marketplace that has integrated the NiftyApes SDK and sets financing options (either custom or pre-made) including price, down payment, duration, and interest rate. … The NFT is transferred to a neutral NFT seller financing escrow smart contract which has been audited by Quantstamp and Sherlock ensuring a secure transaction. … Immediately after clicking “Buy,” the buyer becomes the delegated owner of the NFT and can start using it. … Such use cases include giving the buyer immediate access to token gated Discords, airdrops, and more. … The buyer makes payments until the purchase is paid in full. Once the seller financed purchase is fully paid, the NFT ownership is transferred out of the escrow contract to the buyer's wallet. If the buyer fails to make a payment, the seller keeps all the payments made and can reclaim the NFT to sell again. A buyer initiates the purchase by making a down payment on the NFT and agreeing to the payment terms set by the seller. To be fair, seller financing is coming back in the housing market too. The basic story is the same: There was cheap and abundant credit to buy big illiquid durable assets (houses, JPEGs of monkeys); people bought them and bid up their prices; credit dried up; now the owners want to sell but the buyers can’t borrow money to buy; the obvious solution is for the sellers to lend the buyers the money. I just love the idea that you’d need to buy a JPEG of a monkey on the installment plan. -Matt Levine today

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