In a surprising twist in the NFT market, the focus has shifted to NFT lending, and now Magic Eden and Robox, a leverage trading platform, have joined forces to introduce a unique 'buy-now, pay-later' feature for Solana NFTs. Currently in a private alpha phase, Robox enables users to purchase Solana NFTs on Magic Eden with a down payment as low as 30%.
The chosen NFT is temporarily locked in the holder's wallet during the loan period, while still enjoying utility benefits. Owners have three options: repay the loan with interest to regain full access to the NFT, sell the NFT to settle the remaining balance, or allow the agreed terms to proceed, resulting in the automatic sale of the asset by the Robox platform to recover funds.
This innovative approach distinguishes itself from traditional lending platforms such as Blur and Binance by providing a one-of-a-kind opportunity to experience NFTs firsthand. It grants individuals the chance to delve into a particular collection by acquiring it at a significantly reduced cost, all while reaping the benefits and privileges that come with it.
In addition, Robox has unveiled an exciting $SOL staking feature, empowering users to contribute liquidity to the platform and earn an Annual Percentage Yield (APY) in exchange. This opens up a new avenue for individuals to engage with the platform, offering them a fresh perspective and enabling them to derive even greater value from their active involvement.
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