Glossary
NFTfi
One of the earliest NFT-collateralized lending protocols — peer-to-peer fixed-term loans where the borrower puts up an NFT and the lender funds in WETH or DAI.
NFTfi launched in 2020 as the original NFT-lending protocol on Ethereum. Borrowers list their NFT and request a loan; lenders make offers (amount, interest, duration); the NFT moves into an escrow contract until repayment. If the borrower defaults, the lender keeps the NFT.
The peer-to-peer model is in contrast to Blur's peer-to-pool Blend design — slower to fund but with much more flexible terms. NFTfi has been the proving ground for the broader NFT-collateralized credit market.