Arcade, a platform that allows users to use non-fungible tokens (NFT) as loan collateral, raised $15 million in Series A financing with Pantera Capital.

In Wednesday’s announcement, Arcade Say Pantera, Castle Island Ventures, Franklin Templeton Blockchain Fund, Golden Tree Asset Management, Eniac Ventures, Protofund, Maybe Nothing Capital and Lemniscap, and angel investors BlockFi CEO Zac Prince and Quantstamp CEO Richard Ma NFT mortgage And decentralized financial space. The platform also released a private release with a total loan amount of US$3.3 million and a total loan amount of US$10 million.

Gabe Frank, co-founder of Arcade, said that NFTs account for a large part of the growing DeFi market. worth The total value of the lock-up is more than 250 billion U.S. dollars. “However, despite the huge market value, the lack of DeFi infrastructure prevents NFT holders from achieving the liquidity they hold,” he said.

Arcade’s LinkedIn page shows that there are at least 10 American employees, and the company is currently hiring for various positions, including a senior software engineer, chief talent expert, and team coordinator. Lauren Stephanian, head of Pantera Capital, said that the platform’s mortgage of NFTs may incentivize the participation of “institutional lenders, high-net-worth individuals, DAOs, companies with NFTs on their balance sheets, and NFT collectors”.

related: Nexo cooperates with Three Arrows Capital to launch NFT lending and art financing services

Other platforms have launched or are launching services to facilitate NFT loans, including ETNA Network and Lithuanian lending platform Drops. In March, the lending agreement Teller Finance announced that some of its users will be able to Get credit without providing collateral, Can be accessed through a special NFT.