cryptonews: Crypto lending protocol MetaLand will now offer Axie Infinity players the ability to take out loans using their in-game assets as collateral. 👀
Since launching last spring MetaLend has made more than 2,000 loans, which it classifies as overcollateralized as it lends up to 30% of the assessed value.The new partnership between the decentralized lending protocol and Axie developer Sky Mavis is to an extent one of convenience: MetaLend is GameFi lender focused on NFTs used as characters, accessories and assets in various Web3 games.
That included Axies, but they had to be ported over to the Polygon network, whereas MetaLend has now set up shop on Sky Mavis' Ronin Network blockchain. In the past borrowers had to bridge their loaned funds — Ether — to the Ronin chain.
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