Debanked.com published an interesting piece on Domain Names as Loan Collateral. A company called Teller created a DeFi product to use domain names as collateral.
From the article:
a DeFi Cash Advance, a collateralized loan with 1-30 day terms. It’s just one of many products created by Teller, a peer-to-peer lending platform that relies on smart contracts to facilitate the transactions. The key word is “collateralized” because the blockchain-tethered asset doesn’t necessarily have to be crypto-native per se anymore. Virtually any business owner with a website can offer up its online domain name as collateral for a loan thanks to rapidly developing blockchain technology.
Another player in this venture is a Silicon Valley startup called NameFi. According to the article. Namefi recently found a way to bridge regular old internet domain names to the ethereum blockchain. Namefi’s tech can turn any .com or similar internet domain into a real life NFT without any disruption to the underlying website it hosts. And once ownership of the domain name is governed by whomever owns the NFT, then voilà, it can be offered up as collateral for a loan on the blockchain.
Full story on Debanked.com
