CREAM Finance begins to introduce NFT and Metaverse into DeFi’s bridge strategy »CryptoNinjas
Butter Finance, one Decentralized lending agreement, Is bringing NFT and Metaverse to DeFi. The first phase of its larger strategy is to build a bridge between DeFi, NFT and the Metaverse ecosystem.
By cooperating with Chainlink, CREAM Finance is now the first DeFi protocol to support Axie Infinity’s AXS and Yield Guild Games’ YGG tokens. After further adding The Sandbox’s SAND and Decentralland’s MANA to its V1 Ethereum market, it now supports the largest number of NFT and Metaverse governance tokens on a single DeFi lending platform.
“NFT is an important entry point to bring mainstream users into the broader crypto ecosystem and ultimately into DeFi. We are addressing this new growing special need to allow new cryptocurrency holders to benefit from their digital assets. As we continue to build the necessary bridges between the ecosystems, we are happy to share the first phase of our NFT strategy.”
– Leo Cheng, co-founder and project leader of CREAM Finance
CREAM Finance now supports six leading NFT and Metaverse tokens (AXS, YGG, OGN, MANA, sand and rare) And allow users to borrow these assets as collateral to further bridge the gap between decentralized finance (DeFi) and improving capital efficiency.
“We are proud of the impact Axie has had in developing economies. 50% of our users have never used encryption before, and 25% of users do not have a bank account. We are very happy to see this new release from Chainlink and CREAM Finance AXS price prediction machine, we look forward to the products it can realize.”
– Jeffrey Jiho Zirlin, co-founder of Axie Infinity
At present, in the DeFi industry, there is sporadic support for NFT tokens and the broader NFT ecosystem. The inability of users to make full use of their assets has created obstacles to growth: the composability of NFT tokens is limited, reducing capital efficiency, and NFT holders themselves cannot use the value of their assets to fund further growth.
“Our guild members earn money by playing games, and now, CREAM is helping them release greater utility for their assets in Metaverse. This is an action to democratize finance, breaking barriers, and creating new crypto users. The group empowers participation.”
-Gabby Dizon, Co-founder of ASB
Increasing support for NFT token lending plays a key role in improving the capital efficiency of these assets and bringing value to users and token holders in these NFT ecosystems.The first step is a decentralized price oracle machine, Chainlink built it for AXS and YGG, so that these assets can be listed on CREAM Finance