South African startup NFTfi recently raised US$5 million.
The company intends to use the funds to promote its non-fungible token (NFT) mortgage business. NFTfi’s US$5 million financing was led by Sound Ventures of American actor Ashton Kutcher.
Other investors participating in this round of financing include Maven 11, Scalar Capital and Kleiner Perkins. The company was founded by Stephen Young in February 2020 and has become a market.
Users can obtain NFT cryptocurrency loans and provide NFT loans to borrowers. The report explains that by staking their tokens, NFT holders will be able to release liquidity without selling them.