Goblin Sax is establishing a service for fast loans. It purchased the fast loans app Fluid, which it will rename Goblin Lend, in order to expand the product alongside its current peer-to-peer NFT lending business.
Goblin Sax, formerly known as Gringotts DAO, is one of numerous NFT loan platforms that have emerged in recent years, targeting NFT holders wishing to release liquidity without selling their NFT.
1/ At Goblin Sax, we have always been at the forefront of NFT Finance. Today, we are excited to continue our push with the announcement of Goblin Lend — our new Lending as a Service product. pic.twitter.com/D4q7qwUMKM
— Goblin Sax (@goblinsax) November 2, 2022
Goblin Sax began as a lender on NFTfi but has been searching for ways to grow.
NFTfi, a South African firm that received a $5 million seed round late last year. It offered a loan for $1.4 million over 30 days at 9.69% APR in November. The collateral was an uncommon NFT from the Autoglyphs generative art collection.
According to the report, NFT projects desire greater revenue and involvement, while NFT investors demand liquidity and floor pricing.
