Cryptocurrency DeFi Major Players 2

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Cryptocurrency DeFi Major Players 2

Key Takeaways

Introduction

We have provided more players/platforms operating in the cryptocurrency/DeFi landscape. Since Bridgesplit and the other companies in the previous request provide fractionalization, NFT liquidity, and NFT-collateralized solution, we have provided companies with similar offerings.

1. NiftyPays

  • NiftyPays is a platform that allows NFT owners to stake, swap, borrow, lend, and fractionalize their NFTs.
  • According to the company website, "NiftyPays will further fuel the wave of buying and holding NFTs, making them lucrative to investors looking for short-term gains apart from the increased value of NFTs over time and the pride of owning them."
  • NiftyPays is a staking ecosystem that allows NFT owners to use their assets as collateral for loans or stake their NFTs for some time and earn rewards from NiftyPays' different ecosystem projects.
  • The NiftyPays platform "revolves around $NIFTY - a utility token which introduces an incentive mechanism to allow NFT holders to transact in a peer-to-peer manner for various useful functions, such as fractionalisation of NFTs, or lending and borrowing of NFTs."
  • The platform charges fees for unstaking, liquidation of collateral, fractionalization, and a percentage of the interest on all loans.
  • Below are some of the features and benefits NiftyPays offers to NFT holders:
    • The platform has a smart gamification algorithm that calculates users' rewards based on the time they spend in the ecosystem.
    • NFT Staking Farm: NFT holders can stake their idle NFTs and "earn airdrops from multiple NFT partner projects listed on NiftyPays."
    • Nifty AMM Pool: Users can get loans from NiftyPays' automated lending pool using their NFTs as collateral based on the history and price predictability of their NFTs.
    • Fractional ownership: Users can own a fraction of NFTs they cannot buy as a whole.
    • Nifty Finance: the platform allows users to access existing DEFI ecosystem tools and earn APY on their staked NFTs.

2. Nftfy

3. Unicly

4. Strip Finance

  • Strip Finance is a decentralized platform that aims to ease liquidity in the NFT space. According to the company, some of the problems facing the NFT space are locked liquidity, lack of an aftermarket for NFTs, and absence of price discovery.
  • Strip Finance offers the following solutions to these problems:

5. Liquidifty

6. Metarun (Formerly GoFungibles)

Other Players

7. Dibbs

8. Nexo

9. PWN Finance

10. LIQNFT

  • LIQNFT helps solve the liquidity problem in the NFT space by "allowing NFT owners to fractionalize or serialize their premium NFTs into more affordable Ownership Tokens (OT) or Serialized Tokens (ST)."

Research Strategy

To identify additional players in the cryptocurrency/DeFi landscape, we searched through news sources within the crypto industry for reviews, mentions, and lists of crypto companies and competitors to the players in the previous request. We narrowed down the list gleaned from these sources to provide players that fit our criteria.

To provide the requested information, we searched through the official websites of the players in this request, the official documentation and whitepapers, social media platforms, as well as third-party company profile sources and press articles.

Since Bridgesplit and the other companies identified in the previous request operate in the DeFi and NFTs space, we have provided their closest competitors in the space by the similarity of products and services offered.

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