Pawn Bots – The NFT Finance Pioneers

NFTs, or Non-Fungible Tokens are games that exist on the blockchain. They provide unique assets for players to collect and trade with other gamers like baseball cards or Pokemon cards. These tokens can be used in any game built using NFTs such as CryptoKitties on Ethereum and ERC721 titles such as CryptoPets Deluxe on a decentralized marketplace of items known as the 0x0a protocol.

The “nft trading bot” is a decentralized application that allows users to create and trade their own NFTs. The platform uses Ethereum as its base currency.

With the legitimacy of NFTs increasing by the day, many people feel it’s time to start looking at the asset through a more financial lens. Pawn Bots, an NFT collection based on HiFi’s loan protocol that is paving the way for NFT Finance to flourish via a specialized catalogue of utilities and services, is one project that is fully embracing this concept.

The asset must initially be considered as a financial tool kit, similar to many other stable assets, for the basic essence of NFT Finance to exist, and this is a viewpoint that the project adheres to. Pawn Bots thinks that by doing so, it will be able to unleash the full functioning of NFTs by enabling them to become irrefutable collateralized assets, eliminating the unpredictability of the present and the uncertainty of the future. 

The initiative isn’t here to assist the NFT community achieve liquidity in the near term; rather, it’s here to help begin the infinite NFT Finance ecosystem. 

NFTs Pawn Bots

The Pawn Bots collection has 8,888 NFTs, each with a PFP theme displaying an animated, old-school computer-turned-robot. For the time being, a mint date and price are unknown.

The primary purpose of the NFTs, as previously stated, will be to allow holders to borrow liquid monies against the value of their Pawn Bots NFT. Pawn Bots’ Hifi.finance fixed-rate lending protocol, as well as its soon-to-be-released DeFi composability layer, will allow digital assets like as NFTs to be borrowed against and collateralized (without the need of a third party, nor the need for accepting the terms and conditions of a stranger). They will also be able to become wrapped NFTs (wNFTS) in a fungible layer, allowing them to be fungible with tokens, allowing an illiquid NFT to become liquid.

When the DeFi composability layer is published, further information on the ‘earn’ portion of this dynamic will be available.  

The project has also developed a ‘burn’ feature, which means that Pawn Bots will be leveraging revenue from its secondary sale royalties to buy floor priced NFTs Pawn Bots on the open market, which they will then burn so they no longer exist. In essence, the more secondary sales made, the more of the collection is burned, making Pawn Bots (perhaps) the first NFT project with a diminishing supply. 

The NFTs will also have a one-of-a-kind 24-hour repurchase guarantee, in which holders will have the ability to buy back their Pawn Bots NFT at mint price during the first 24-hours after the revelation (no questions asked). 

Borrowing Capabilities

Unlike many NFT collections, the dynamic described above will be immediately available to holders upon purchase, ensuring that usefulness may be enjoyed right away rather than months afterwards. Holders will simply activate the prime directive on the NFTs and get a portion of the current market value in liquid monies to use as they desire. No request will be too large or too little for the project, as they are’ready to serve,’ as they put it. 

Loans will always come with the feared problem of interest, but with Pawn Bots, that anxiety is mitigated since each loaned equity amount will be connected to HiFi’s low fixed rate. Furthermore, with its fast financing mechanism, the procedure is free of ambiguity, inefficiency, credit ratings, and exploitative contracts. 

The instant liquidity of NFTs Pawn Bots will drive up its market demand, meaning its value will increase over time. As more value is observed, the project will distribute its revenue increases to its liquidity fund, meaning more money will available for Pawn Bots NFT holders to borrow.

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Roadmap 

The great Pawn Bots NFT unveiling will be the next step on the roadmap (accompanied by the 24 hour buyback guarantee).

After this, the DeFi Composability Layer, Borrowing Capabilities, and the burn feature, will all fully launch.

Follow Pawn Bots >> Twitter

Follow HiFi Finance >> Twitter

 

NFTs are a cryptocurrency that is based on the Ethereum blockchain. They can be traded for other cryptocurrencies, and also used to buy items in games. The “Pawn Bots” are an NFT project that has been creating a lot of buzz recently. Reference: what are nft tokens.

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