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Breaking down the NFT Lending Landscape: Peer-to-Peer Lending or Liquidity-Pool Models?
Sandra Leow


  • In a peer-to-peer lending model, lenders have the ability to set terms according to how much they value a specific NFT rather than the floor price. Fixed rates and terms are generally more appealing to borrowers.
  • Liquidity-pool models reduce the friction and fragmentation of matching lenders with borrowers by allowing borrowers to gain access to capital from readily available pools. Meanwhile, lenders get instant quotes on yield upon depositing their assets.
  • NFTfi and Arcade are protocols that utilize the peer-to-peer lending model. On the other hand, Pine, BendDAO, JPEG’D, and DropsDAO are notable projects implementing the liquidity-based pool model.
  • Emerging NFT lending projects, including FluidNFT, OpenSky, Unlockd,...