Kraken CEO Powell says it will allow NFTs as collateral for loans

nftjedi

4 years ago

Kraken is considering a system where customers can use their NFTs as collateral to borrow funds against. https://t.co/cpIr1sHTef
— FORTUNE (@FortuneMagazine) December 24, 2021

Kraken CEO Jesse Powell says the company is developing a marketplace where people can use their NFTs as collateral to take out loans. [Coindesk]
Kraken is a cryptocurrency exchange and bank, started in 2011.
Things might get complicated in valuing an NFT. Would it be based on the last sale, even if it was a while ago? Or would it be based some comparison with existing prices? Another complicating factor is the exchange rate between ETH and dollars. Would the value of the NFT be in ETH or dollars?

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