Kraken CEO Jesse Powell recently discussed the possibility of offering NFT-backed loans on his crypto exchanges new NFT marketplace set for launch in the short term. However, these NFT backed loans will only be approved after verifying the liquidation value of the NFTs owned by the borrowers.
Currently, Kraken’s NFT marketplace developers are working on providing secure custody for NFT’s used as collateral for loans. Additionally, the team is developing models for verifying the liquidity value of non-fungible tokens that will be accepted as collateral for loans. You can click on this link to learn about other features that will be available in the Kraken NFT marketplace
