Arcade.xyz – Gandi customer – (United States)
Blockchain developers are using .xyz domains to harness the latest technologies and develop innovative solutions. Web3 wallet Taho.xyz is geared towards optimized digital asset management solutions. NFT platform Cohort.xyz aims to refresh the way brands engage with customers. Web3 authenticator Dynamic.xyz is geared towards simplifying access to digital wallets. In this week’s #BlockchainThursday, we’ll introduce you to a web3 application geared towards the financialization of NFTs: Arcade.xyz.
Arcade.xyz is the online home of Arcade, a web3 application that positions itself as a financial “super app” for NFTs and other digital assets.The application is known for facilitating loans backed by NFTs on the Ethereum blockchain. In September 2023, Arcade facilitated a $1.1 million loan against a complete collection of Supreme box logo T-shirts from 1994 to 2020, showcasing the increasing integration of real-world assets (RWAs) into the decentralized finance (DeFi) ecosystem. This collaboration with 4K, a protocol for tokenizing physical assets, amplifies the evolving landscape where luxury goods can serve as collateral and highlights Arcade’s role in expanding liquidity opportunities for unique assets through blockchain technology.1
The innovative platform plays a crucial role in the financialization of NFTs, representing a significant advancement in how value and ownership are perceived and managed for unique digital assets. Users of Arcade.xyz can engage in several activities through its web interface, including trustless off-chain order matching for loans, which are then settled on-chain in decentralized escrow. This process ensures the cryptographic security of transactions on the Ethereum network, highlighting the platform’s commitment to secure and efficient operations within the NFT lending space.
A central feature offered by Arcade.xyz is the creation and management of Asset Vaults, which are integral to the platform’s lending and borrowing mechanism. These Vaults help users to deposit a variety of assets, including ETH, and in return, receive an ERC721 token indicating ownership of the Vault. This feature facilitates a range of functions such as securing airdrops for NFT assets stored within a Vault, delegating a hot wallet for asset management, and staking certain assets to gain liquidity. The flexibility and security offered by these Vaults underscore Arcade.xyz’s role in enhancing the liquidity and utility of digital assets. By allowing users to leverage these assets as collateral for loans or to accept collection offers, Arcade.xyz provides a valuable service for both asset holders seeking liquidity and investors looking for yield opportunities in the NFT space.
Gabe Frank and Robert Masiello, co-founders of Arcade.xyz and blockchain solutions company Non-fungible Technologies (NFTech), 2share an innovative approach to financial technology. Their platform enables users to access liquidity by borrowing against their NFTs, avoiding the need to sell their unique digital assets. We had the opportunity to speak with Gabe about their decision to build their platform on .xyz. As he explained,
“.XYZ domains are quickly becoming synonymous with web3 branding and culture.”
You can learn more about the platform by following along on LinkedIn @arcadexyz and Twitter/X @arcade_xyz, joining the Discord, and by visiting Arcade.xyz.
1.https://finance.yahoo.com/news/arcade-facilitates-1-1m-loan-041857276.html 2.https://www.nonfungibletech.com/XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.
