Unlockd is a Decentralized Finance protocol that unlocks democratized NFT liquidity allowing DeFi users to compound their wealth with a NFT-backed, cross-chain, instant loan maintaining 100% of holder perks.
In a world where NFTs have revolutionized the digital asset landscape, one platform stands out to unlock the true potential of these unique tokens - Unlockd.
Imagine a future where all non-fungible tokens become more than just collectibles; they become a gateway to yield and liquidity. This is the vision of Unlockd, a pioneering platform that allows NFT holders to borrow against their valuable assets while still retaining access to the utilities that make their tokens special.
- The inception of Unlockd occurred in December 2021 when co-founders Carlos Otermin and Jorge Schnura decided to join forces and establish the protocol.
- Their journey officially began in April 2022 with the initiation of development. In August 2022, a successful Seed Series funding round of $4.4M was secured, led by Blockchain Capital.
- In December 2022, the testnet was launched four months later, offering a secure environment for users to explore and become acquainted with Unlockd while allowing the team to assess its safety.
- By January 2023, the beta versions of Unlockd's main net were released. September 2023 marks a significant milestone in their journey as the complete and final version (V1) of Unlockd will be fully developed, prepared, and deployed.
- Throughout their journey, Unlockd encountered significant challenges, with one particularly notable obstacle being the crypto market crash that occurred during their seed series fundraising endeavors.
- Despite the unpredictable and volatile conditions of the market and the associated risks for potential investors, Unlockd was able to successfully attract venture capitalists who demonstrated confidence in their business model and ability to execute.
- These investors possessed a strong belief in Unlockd's potential and remained undeterred by the adverse market situation. As a result, the company secured the necessary financial resources to sustain its operations and persevere with the ongoing development of its platform.
Unlockd stands out from other platforms due to its array of unique features and innovative solutions.
- In the realm of NFT lending, Unlockd offers users a distinct advantage by allowing them to retain the utility of their NFTs while utilizing them as collateral. This approach maximizes the value of their assets and ensures that users can continue to benefit from their NFTs' functionalities.
- Setting it apart from competing protocols, Unlockd has developed a proprietary risk framework that leverages machine learning technology. This framework assigns individualized loan-to-value ratios to each NFT, resulting in a fairer and less risky lending environment.
- Unlike protocols that rely on arbitrary LTVs per collection, Unlockd's approach takes into account the specific characteristics of each NFT, enhancing precision and accuracy. Moreover, Unlockd evaluates NFTs based on their fair value, rather than relying solely on the floor price.
- This methodology empowers borrowers to secure more substantial loans, providing greater flexibility and access to capital.
- Additionally, Unlockd boasts a robust liquidation engine that optimizes the extraction of maximum value from liquidations.
- This feature enhances the overall efficiency of the platform and ensures that lenders and borrowers can benefit from optimal outcomes.
With these unique features, Unlockd revolutionizes the NFT lending landscape, offering users a comprehensive and advanced platform for unlocking the value of their digital assets.
As Unlockd looks ahead, its team is dedicated to pushing the boundaries of innovation and growth. With their sights set on the future, they have a bold vision for the next steps in their development.
- Their current focus revolves around an important feature that they aim to transform into an independent protocol. This protocol, once fully developed, will be released to the public.
- However, before that, they are committed to completing the remaining portion of V1 and ensuring its successful deployment.
- Simultaneously, Unlockd is eagerly preparing to launch its go-to-market strategy. This strategic move will serve as a catalyst for their growth, marking the initiation of an exciting new phase for the company.
- By leveraging their unique offerings and expanding their market reach, they aim to establish a strong presence and captivate their target audience.
- Unlockd is dedicated to embracing innovation and continuously improving its products and services.
- Through their expansion plans and the launch of their new protocol, they aim to create greater value for their customers and solidify their position as a leading player in the industry.