Avalanche has partnered with Salvor to introduce an NFT lending platform.
This strategic move could significantly impact the price of Avalanche’s native cryptocurrency, AVAX, as it enhances the utility and liquidity of digital assets within its ecosystem.
Avalanche, Salvor to Invest $1 Million to Build NFT Platform
Salvor’s integration into the Avalanche Rush Program, backed by a $1 million AVAX from the Avalanche Foundation, marks a pivotal development in decentralized finance (). By enabling users to use their NFTs and meme coins as collateral, Salvor provides a versatile mechanism for securing loans directly in AVAX, fostering greater financial flexibility and enhancing capital efficiency across the Avalanche network.
The platform supports over 800 NFT collections, including major names like Dokyo, MadSkullz, Chikn, and Steady. This extensive reach bolsters the Avalanche ecosystem’s accessibility and appeal to a broader range of participants.
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