The VIBE NFT Ecosystem expands! Take out loans on VIBE NFT’s!

This article was first published on Stories by VIBEHub on Medium
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Hello Everyone! Thanks for joining us today and taking the time to become more educated on VIBE NFT Loans. NFT marketplaces and ecosystems are traditionally designed to only allow owners to buy NFT’s and bring them into a game and sell them at a later date. The VIBE NFT Ecosystem is built to give owners more opportunities with their NFT’s including taking out Loans against their VIBE NFT collateral. Current markets are generally owners buying NFT’s and then having to wait months or even years to possibly see any revenue generated from their NFT. We’re happy to introduce VIBE NFT’s and deliver ‘DeFi meets NFT’s’ with the most advanced Ecosystem in the NFT Market.

Collateral

All VIBE NFT’s are backed with collateral. When owners buy an NFT at Auction, 100% of the buying amount is locked up with the VIBE NFT as Collateral.

Example:

  • User A buys VIBE NFT for 100 VIBE at Auction
  • User A now owns VIBE NFT backed with 100 VIBE as collateral

Take out a loan against your VIBE NFT Collateral

VIBE NFT owners can take out loans against their collateral. Owners can take loans from lenders for 50% of their collateral amount.

Example:

  • User A buys VIBE NFT at Auction for 100 VIBE
  • User A applies for loan of 50 VIBE
  • Lender loans User A 50 VIBE
  • User A now is the owner of VIBE NFT with 100 VIBE as collateral and 50 VIBE loan

What happens if owners don’t pay back loan?

If owners don’t pay back loan, owners lose their NFT and entire collateral. The lender who loaned owner VIBE is funded with VIBE NFT and it’s collateral

Example:

  • User A owns VIBE NFT with 100 VIBE as collateral
  • User A takes out a loan on VIBE NFT for 50 VIBE
  • ...

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Stories by VIBEHub on Medium

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