TECH - EXCLUSIVE: GMoney Secures $1 Million Loan With CryptoPunk Previews NFT Paris Collection | Benzinga
A pseudonymous NFT entrepreneur known as GMoney borrowed $1 million as a 180-day loan in tokenized U.S. dollars (USDC) using his prized Ape Punk #8219 as collateral on the Gondi lending platform.
This is the first time a high-value single asset has been used to secure such a loan, according to the investor. The loan "not just a testament to the value of Ape Punk #8219 but also underscores the growing value and influence of NFTs in the financial and art sectors.”
Ape Punk #8219 us part of the CryptoPunk NFT collection.
GMoney - Image Source: 9dcc
"The loan is for a personal transaction," Gmoney told Benzinga. "Yes, we're making a major point about the value of the NFT. I could have pursued more traditional routes to secure cheaper financing, but the fact that I was able to obtain a loan without any additional requirements is remarkable. The beautiful aspect ...