Announcing the NFTfi Foundation 

We are excited to announce the launch of the NFTfi Foundation. NFTs are becoming an essential component of the internet’s infrastructure and we foresee credit markets around NFTs expanding to support millions of users. The NFTfi Foundation’s vision is to create the leading decentralized settlement layer that will enable these markets.

Pioneering NFT finance

When NFTfi went live on Ethereum Mainnet in May 2020, the world was just waking up to the NFT revolution. Watching the early days unfold, from spreadsheet-managed lending to the first iconic sales of CryptoPunks and the emergence of onchain generative art, the team’s love for digital assets and their communities has been the heartbeat of the NFTfi journey.

NFTfi became the first to dream up and deliver a liquidity protocol for NFTs, breaking down barriers for thousands to access funds securely and trustlessly, using their digital treasures as collateral.

At the time of writing, NFTfi has settled over $500 million in loans across more than 61,000 transactions, served over 5,000 unique users, and earned lenders over $15 million in interest. 

But that’s just the very beginning. We expect the NFT finance market will grow by orders of magnitude over the next few years, as tokenized real-world assets and other new NFT verticals come onchain.

The NFTfi Foundation’s mandate is to develop the infrastructure necessary for healthy NFT credit markets. It will steward the NFTfi protocol and grow the NFTfi ecosystem until it becomes self-sufficient.

As the protocol matures and enters the upcoming phases of growth, the NFTfi community requires an independent organizational structure that can support the vibrance and diversity of the emerging NFTfi ecosystem.

The NFTfi Foundation is a non-profit organization with the mandate to develop the infrastructure necessary for healthy NFT credit markets. It will steward the NFTfi protocol and grow the ecosystem until it becomes self-sufficient. 

There are already a large number of other projects integrating with NFTfi and building new applications using the NFTfi SDK. These and many other ecosystem participants will be able to count on proactive support, effective incentives, and coordination from the NFTfi Foundation going forward.

From Council to DAO

The NFTfi Foundation is today led by an experienced Director who is a resident of the Cayman Islands with the necessary qualifications and web3 experience to fulfill the role.

Over the coming months, the Foundation will announce and inaugurate the NFTfi Council as a first step towards balanced stakeholder participation in key resource and protocol decisions. More information about the Council’s composition and governance model will be shared soon. 

The NFTfi Council, in collaboration with the Foundation Director, will define a roadmap for, and launch and evolve the NFTfi DAO into a strong, functional and decentralized community stewarding the growth of the NFTfi protocol more effectively than any centralized entity practically could. 

The Foundation will inform about progress on its governance structure in its official blog.

More announcements soon

We will roll out several initiatives to promote the use of the NFTfi protocol and the NFTfi technology stack over the coming months. 

In the meantime, if you want to contribute to the NFTfi ecosystem, as an individual or a project using the NFTfi tech stack, we encourage you to reach out by sending an email to [email protected] 

Make sure to follow NFTfi Foundation on Twitter/X since there will be important announcements shortly.

Let’s advance NFT finance, together.