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Discover How Non-Fungibility Transforms Loaning Mechanism
Unifred
June 06, 2024
Hey, Community!
What better way is there to start the month than with non-fungible treats?! Being among the pickiest of NFT collectors and aficionados, we have taken the time to curate the very best non-fungible highlights for you. Here’s a rundown of what you’ll see:
An archaic violin was used to acquire a millions-worth loan. That’s not all! It was further tokenized as an NFT. Sleek, right? Another highlight plunges into the intersection between non-fungibility and a wine collection. There’ll be loaded perks for holders.
Told you this week’s highlights will be packed! Jump right into the details to learn more.
NFT Event of the Week
Archaic Violin Tokenized After Becoming Loan Collateral
There’s a new way of earning from loans: tokenizing a physical item used as collateral and fractionalizing it for others to buy. Crypto platform Galaxy Digital and Animoca Brands co-founder Yat Siu forged this idea after Siu used an archaic Stradivarius violin as collateral to secure a multi-million dollar loan.
The Stradivarius violin dates back to 1708 when it was owned by the Russian Empress Catherine the Great. Yat Siu acquired the antique violin last year via an auction for over $9 million. Upon receiving the violin as collateral, Galaxy Digital created an NFT version for the physical stringed instrument.
Later on, Siu birthed the idea described earlier. He hinted that the NFT violin may be fractionalized to allow other users to own a piece of musical instrument. However, he confirmed that there are no guarantees as to a follow-up on that idea.
Want to see more of this story? Dive right into the details!
NFT Drop of the Week
En Primeur Collectibles
Wine connoisseurs! It’s time for something tasty. Web3 marketplace InterCellar is introducing a limited-edition wine collection in collaboration with the crypto exchange Cryptocom. Dubbed En Primeur, the collection will feature 28 wine bottles that are up for grabs. Seven of these bottles are highly sought-after vintage wines.
Each of the 28 bottles will initially be available as NFTs, which represent digital certificates of ownership for a corresponding physical bottle securely stored in InterCellar's warehouse. Benefits tied to the NFT collection include a 5% rebate on purchases in the form of a cashback reward usable for future wine offerings on InterCellar.
The 28 wine bottles will remain with the producer for at least 24 months before being bottled and shipped to InterCellar. They will become deliverable from June 1st, 2026. Whether you are a wine collector, non-fungible degen, or simply inquisitive, you should get one of these limited wine bottles.
When?
Ongoing
How much?
$495
Top Web3 Stories of the Week
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