Arcade, a platform that allows users to use non-denominated tokens (NFTs) as part of a loan agreement, has raised $ 15 million in Tier A investments including participation from Pantera Capital.
At Wednesday’s show, Arcade owns Pantera, Castle Island Ventures, Franklin Templeton Blockchain Fund, Golden Tree Asset Management, Eniac Ventures, Protofund, Probably No Capital and Lemniscap comes from BlockFi CEO Zac Prince and Quantstamp CEO Richard Ma. investing in efforts to integrate the assets of the NFT and integrate financial opportunities. The foundation comes from a private equity firm with $ 3.3 million in total savings for about $ 10 million in assets.
Gabe Frank, founder of Arcade, said NFT is an important part of the growing DeFi market, with more than $ 250 billion in total locks. “However, the lack of development at DeFi prevents NFT owners from accessing water and holding them despite the size of the market,” he said. .
Arcade’s LinkedIn page has a minimum of 10 US employees, as well as a company currently employed for a variety of services, including advanced engineering, technical manager and managers. Lauren Stephanian, CEO at Pantera Capital, said the support of the NFT platform could encourage participation by “professional organizations, executives, DAOs, companies in the NFT and their revision of the NFT package.”
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Other companies have already announced or are continuing to support loan support against the NFT, including the ETNA Network and Withdrawal of Lithuania-based loan systems. In March, the Teller Finance lending system announced that some of its employees would be able to access loans without proof, which could be obtained through a special NFT.