• The partnership aims to optimize NFT pricing intelligence, allowing borrowers to access a third party, independent valuation, with the ability to access real LTV & valuation for non- floor items.
• By providing extra liquidity according to real LTV/ Valuation, the partnership will further boost NFT financialization.
• Each party can therefore more appropriately manage risk when using NFTs as collateral and allow further capital to be redistributed back to the market.

As the space is still in its infancy, finding a reliable NFT appraisal value is difficult due to illiquidity, volatility, the myopic nature of developing markets, and ultimately, the difficulty quantifying each participant’s perceived value. There are several approaches to the problem, but few have skin in the game and consequences for bad valuation.

The Lithium — Cyan partnership is the first step to fill this gap, offering Cyan users a highly effective appraisal platform powered by Lithium’s collective intelligence model. In addition, NFT holders can use Cyan to pawn their holdings at a valuation closer to the market price rather than just floor price. The two believe the move will further align the interest of the borrowers and the lenders.

About Lithium Finance

Lithium Finance is the first decentralized asset pricing mechanism powered by collective intelligence. We bring market participants together to estimate pricing for illiquid assets on demand.

Website | Twitter

About Cyan

Cyan, the Buy Now, Pay Later service for the metaverse, is the first protocol to provide financing options for purchasing NFTs. The protocol also provides collateralized loans on NFTs and Vaults for capital providers to earn a yield on financing these assets.

Website | Twitter

SOURCE: MEDIUM

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The post Lithium Finance Partners With Cyan appeared first on Smart Liquidity Research.

Cyan raised $2M in a Seed Funding Round led by gumi Cryptos Capital (gCC) and Animoca Brands. OpenSea, Fabric Ventures, Bastion Trading, and angels from The Sandbox and YGG also participated in the round.

Cyan’s Buy Now, Pay Later Service

Cyan’s Buy Now, Pay Later service allows consumers to make purchases and pay for them in the future, allowing users to finance purchases, re-collateralize their NFTs, and offer capital providers a way to stake into Vaults to earn a yield on financing metaverse assets.

The company is founded by Mikio Crosby, a long-time participant in cryptocurrency markets and experienced in building web applications. Through his journey in buying a Bored Ape last year. He thought of the idea to use the target NFT as collateral for an installment plan.

He comments, “Leverage in NFTs, and in the broader Metaverse, is quite limited right now. I wanted to build a service which makes NFTs affordable for everyone.”

Users are able to buy NFTs now and pay them over a three-month period. The most prominent and well-established collections are available. Including Bored Ape Yacht Club, Cool Cats, VeeFriends, World of Women, and more.

Management Quote

Yat Siu, co-founder and executive chairman of Animoca Brands comments: “We believe that NFTs are essential to the future of the web and digital property rights. Cyan is one of the early players in the nascent field of the financialization of digital assets, and we see significant potential in its target market.”

“The financialization of NFTs is a critical next step in the progression of this asset class. Cyan provides a core piece of composable infrastructure needed in this market allowing for BNPL (effectively options) and NFT-backed loans, as well as novel yield vaults for financing these activities,” said Evan Mair, Principal at gCC.

Hence, Cyan plans to add more Vault categories. Integrate multiple blockchains including Solana, and deploy other unique features that do not yet exist in NFT financing.

About Cyan

Cyan, the Buy Now, Pay Later service for the metaverse. The first protocol to provide financing options for purchasing NFTs. The protocol also provides re-collateralized loans on NFTs and Vaults for capital providers to earn a yield on financing these assets.

Website | Twitter

SOURCE

https://medium.com/@usecyan/cyan-receives-2m-in-seed-round-investment-1d172f6e17a9

The post Cyan Raised $2M in Seed Round Funding appeared first on Smart Liquidity Research.