Gondi, a non-fungible token (NFT) lending protocol, went live on Tuesday after raising a $5.35 million seed round led by Hack.vc. The round was co-led by Alex Pack at Hack.vc and Rodolfo Gonzalez at Foundation Capital, with participation from Dragonfly Capital, Pantera Capital, and 6th Man Ventures.
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 Pack.
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. Borrowers only pay interest based on the outstanding loan duration and benefit from instant refinancing, ensuring they always get the best loan terms available.
At launch, Gondi has partnered with or whitelisted some blue-chip NFT collections, including CryptoPunks, AutoGlyphs, Bored Ape Yacht Club, Chromie Squiggle, and Fidenza.