The NFT collector borrowed 3.5 ETH (currently worth $12,600) on the NFTfi platform and put up an “Elevated Deconstructions” NFT, which is part of the Art Blocks Curated set, as collateral. The Elevated Deconstructions NFT was selling for about 11ETH ($39,600) at the time of the deal.
Since then, the value of these NFTs have shot up due to endorsements from Punk 6529 (a Twitter (NYSE:TWTR) account run by the owner of that CryptoPunk) and Cozomo de’ Medici (American rapper Snoop Dogg). They sold for 85 – 200 ETH ($306,000 – $720,000) not long after the loan deal.
Source: Cryptocurrency - investing.com
