We focused our efforts on NFTfi as most of the Art Blocks borrowers and the lending activity was happening already there and we followed our community to support them. So supporting the wider Art Blocks ecosystem was an obvious next step for us. We decided to expand the lending activity to other Art Blocks Curated collections, as Art Blocks and Squiggles are joined at the hip and their success is inexorably linked. Additionally, lending increases the liquidity of Squiggles, making them more valuable and benefits the community by having liquidity available at reasonable rates. SquiggleDAO has been lending on Squiggles for more than a year as it aligns with our mission of acquiring more Squiggles (if the loan defaults), or generate some yield on our -otherwise idle- ETH if the loan is repaid. We heard from NiftyFifty of SquiggleDAO about their loan activities, and how NFTfi helps them to support Squiggles, Art Blocks, and the entire generative art ecosystem. While NFTfi is peer-to-peer, it is not just individual collectors who can get involved, but organizations too… How SquiggleDAO found a home for lending and borrowing on NFTfi Given the rapid ascent of generative art in recent years that has seen major traditional museums acquiring notable Art Blocks works and prices skyrocketing, NFTfi can be a valuable tool that offers long-term collectors more flexibility. It is also a reliable way to access liquidity for taking advantage of market opportunities or meeting IRL needs, without having to sell your prized generative piece. I also like using NFTfi because it’s peer-to-peer, so you get an actual person on the other side who can properly value your piece and give you a fair loan value.”Īs this quote demonstrates, taking out a loan can be a hedging tool against potential price fluctuations. I see borrowing as a form of insurance - these are high-value pieces, so I’m happy to pay the APR for peace of mind. I’ve taken out loans on Squiggles, Memories of Qilin, Contractions by Loie Hollowell, and Friendship Bracelets. “I have used NFTfi since 2021 and have been both borrowing and lending on the platform with my Art Blocks collection. We spoke to homerfan33, a keen lender and borrower, who told us: How the Art Blocks community is making the most of lending and borrowing on NFTfiīeyond the data, there are many reasons why an Art Blocks holder or enthusiast might use NFTfi. The cumulative monthly loan volume has steadily increased ever since, and the total loan volume has now surpassed an impressive $36M. Art Blocks surpass $36M in total loan volume on NFTfiĪs the chart below shows, Art Blocks holders have been trusting NFTfi since February 2021. It is therefore unsurprising to see Art Blocks firmly in the top 3 all-time collections on NFTfi! Please note that this is the cumulative volume of different Art Blocks projects, as they are hosted on the same contract. ![]() These artworks have inherent value derived from their aesthetics, innovation, provenance, and a wide range of other creative factors. This passionate ethos among Art Blocks collectors lends itself to long-term holds, especially as for generative art, future utility is not even part of the conversation (as opposed to PFP collections). ![]() In a remarkably positive deviation from the traditional art world, Art Blocks has enabled a culture in which artists and collectors are building together, with innovative organizations such as SquiggleDAO working to establish generative art’s rightful place in the canon. Since then, Art Blocks has hosted and nurtured the most celebrated generative art projects, from Tyler Hobbs’ Fidenza to Dmitri Cherniak’s Ringers and Snowfro (aka Erick Calderon)’s iconic Chromie Squiggle.Īn incredible Art Blocks community of creators, collectors and enthusiasts has developed and continues to strengthen as OG projects receive increasing critical acclaim, while new projects push the boundaries and possibilities of the medium. The generative art field has seen explosive growth and recognition since the establishment of Art Blocks, the premier generative art platform, in 2020.
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