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Florida Street, the developer of the NFT lending protocol Gondi, closed a $5.35 million seed round co-led by Hack.vc's Alex Pack and Foundation Capital's Rodolfo Gonzalez, with participation from Dragonfly, Pantera Capital, and 6th Man Ventures.
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.
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