Gettin' low-low-low-low-loans. Meet Unlockd! They've just raised a $4.4M seed led by Blockchain Capital to let you use your NFTs as collateral to get instant loans.

• The first phase of launch will support over 25 Ethereum NFT collections.

Investor check. Sfermion, Spartan Group, Play Ventures, IDEO CoLab, Bitscale, Sanctor Capital, Caballeros Capital, ED3N Ventures, Yield Guild Games, Emfarsis, Crypto Plaza, YGG SEA, BreederDAO and BlockchainSpace also joined in.

• 👼🏻: Gabby Dizon (Co-founder, Yield Guild Games), Colin Goltra (COO, Yield Guild Games), Peter Ing (Co-founder, BlockchainSpace) and Nick Emmons (Co-founder, UPshot).

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🔓 Unlockin' that $$$

They're building a blockchain protocol that lets you borrow against your NFTs— while still being able to use them! Just deposit your NFTs, get them appraised and borrow tokens from Unlockd to get that $$$.

• You'll get the loan instantly, and it's open-ended, so there's no rush to repay! There is a borrow limit, though.

What's cool? You keep the utility (aka, the use) of the NFT even if it's collateralized.

• If you have PFP NFT holder perks, you can still access them.
• If it's a game NFT, you can still use it for gaming and get yield.

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🤔 Who'd use Unlockd?

Gaming guilds. Access more capital to scale your guild, onboard new players, invest in more assets and more! Don't just use your typical gaming NFTs like Axies as collateral — they're already yield-generating and bring in $$$.

• Unlock even more working capital by collateralizing your idle NFTs just sitting there like NFT assets bought from pre-launch games or in-game land.

Collectors. Unlock more $$$ to expand your collection without having to sell any of your precious art. And yes, you'll still be able to use that PFP and all its perks!

DeFi users. Lenders can enjoy the best APYs for your crypto. Soon, borrowers will be able to pledge DeFi NFTs to unlock capital too.

Investors. Been investing in NFTs? Make the most out of them and access more $$$. Besides, it's way harder to get a loan in the physical world. Oh, and did we mention this is more tax-efficient?

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💰 What's with the $$$?

They'll be focusing on product and development, marketing, cross-chain expansion and bringing in a tier 1 auditor for protocol security!

• In the next few months, they'll expand to more NFT collections, including Polygon NFTs.