12/07/2023 NFT Lender Gondi Goes Live, Raises $5.3M Round Led by Hack.vc

Developer Florida Street's seed round features Hack.vc, Foundation Capital, Dragonfly Capital, Pantera Capital, 6th Man Ventures and others.

(Ryan Quintal/Unsplash, Modified by CoinDesk)

(Ryan Quintal/Unsplash, Modified by CoinDesk)

Non-fungible token (NFT) lending protocol Gondi went live on Tuesday after raising a $5.35 million seed round led byHack.vc, the firm told CoinDesk.

McDonald’s Collaboration Sparks Doodles NFT Floor Price Surge
NBA legend Shaquille O’Neal signs $11M Astrals NFT settlement
Bids soar to $2.8 million for World Wide Web code NFT

Gondi allows lenders and borrowers to capitalize on the value of blue-chip NFT collections on the Ethereum blockchain. Lenders can put up their NFTs on the platform for a fixed rate, while borrowers can use the NFTs as collateral or for use on NFT-based financial applications.

Gondi says that borrowers on its platform only pay interest based on the outstanding loan duration. Moreover, borrowers benefit from instant refinancing, ensuring they always get the best loan terms available, even after having initiated the loan.

Borrowers can use their NFT assets as collateral to request a loan from the open market.

The seed round for Gondi developer Florida Street was co-led by Alex Pack atHack.vcand Rodolfo Gonzalez at Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, and 6th Man Ventures, among others.

“We are thrilled to have co-led Florida Street's seed round, and we are excited about the solutions they are bringing to Web3 users. Gondi's instant refinancing will enhance the NFT lending market, allowing borrowers to access more affordable credit and fostering a growing market,” said Alex Pack, Managing Partner atHack.vc, in a message to CoinDesk.

Some blue-chip NFT collections that have partnered with or been whitelisted on Gondi at launch include CryptoPunks, AutoGlyphs, Bored Ape Yacht Club, Chromie Squiggle, and Fidenza, among others.

Arts

https://www.coindesk.com/web3/2023/07/11/nft-lender-gondi-goes-live-raises-53m-round-led-by-hackvc/

Interesting NFTs
#2282
By MutantApeYachtClub
#47424
By OthersideDeployer
Fuku-Shiva
The term “Fuku” refers to fortune or good luck. “Shiva” refers to the Hindu deity who represents strongly polar qualities, both severe and delicate. On a beach inspired by adventures on Phi Phi island in Thailand, three youths cavort. Two are representational figures and the third is psychologically rendered. A dynamic relationship ensues between the triad; a reciprocity of active and passive states. The boy on the right engages in maneuvers of evasion, defense, and is dressed in a speedo which reiterates the colors and symbolism of the caution tape on the left and upper right frame of the composition. In concurrent reaction the psychedelic figure shoots out a rocket powered paper airplane. The nude boy seated in the froth and sand approaches in passive repose, and is met with active attention but equal physical reserve by the psychedelic being. Perhaps the most naked figure is also the least representational. Looming large, dynamic, and active, it engages its companions playfully. Various symbols interject into the otherwise naturalistic scene, most notably a beach ball and two contaminated barrels nested in the sand. The upright barrel reads “FukuShima” in Kanji. The barrel laying down reads “Dharma”. To the left the scene is bounded by caution tape, reiterating the danger of the nuclear waste while also hosting alien archetypes, whose presence, as is the nature of these entities, runs up and just behind the consciousness of the psychedelic figure’s eggshell-like skull.
CryptoPunk 4156
By C352B5
The Cash Tape #13/25
Unsigned Hype! Exclusive, high-quality audio cassette recording of hypnotic affirmations for financial abundance and prosperity.