In the latest update, Hoard exchange, a platform that empowers game developers with the infrastructure to integrate in-game items with Ethereum blockchain, has launched its NFT marketplace today.
The marketplace will curate digital goods to simplify developer-user interactions. Users will be leveraging it to trade, lend, or rent in-game items, real estate, digital art, and many more NFTs.
The marketplace service allows users to list their NFTs and trade them and, at the same time, discover other NFTs to purchase. In addition to the value of the listed NFTs, the user can leverage their uploaded or acquired NFT as collateral for a loan. Although the process will depend on the supply and demand, the solution offered by Hoard will allow lenders to yield high profits along with a scope for them to acquire desired NFTs in case there is a foreclosure.
With its beginner-friendly, intuitive, and interactive UI, the lender and borrow functionalities of Hoard allow both the newly initiated and advanced crypto enthusiast to conveniently build an additional income.
There is also the feature of staking that allows holders of the native HRD token to lock their coins in exchange for a financial return.
According to Radek Zagorowicz, the CEO of Hoard Exchange, the lending and borrowing features on the Hoard NFT marketplace “opens up new possibilities for the NFT holders.” He is also seeing this launch as the first step to many upcoming “novel NFTs functionalities/utilities” for Hoard to introduce over the next few months.
The loan platform, apart from being a peer-to-peer lending platform in the Hoard Marketplace, will allow NFT owners to acquire crypto funds to further invest them. The lenders can put their stablecoins to use and generate additional profit by charging interest. The other marketplace modules ensure low platform fees and flexible options for setting loan parameters on a user-friendly interface.