Picipo is now partnered with Drops DAO to expand the use of NFTs in the future
Picipo has a direct focus on servicing the creation, discovery, trade and distribution of NFTs. A lot of attention is paid to solving the liquidity problem of the NFT secondary market. So, the Picipo users will be able to extract value from their owned NFTs beyond simple ownership and in this way the Drops DAO protocol will help to provide loans for NFTs and DeFi assets, supplying them with much-needed utility.
The protocol uses lending pools that enable any type of NFT asset to be used as collateral — from collectibles and metaverse items, to financial NFTs. Users can leverage their idle NFTs and DeFi tokens to obtain loans and earn extra yield.
By implementing this protocol on Picipo, users will be able to stake their NFT assets and instantly convert them to an ERC20 equivalent, which can in turn be staked as collateral. This eliminates the need for a case-by-case evaluation by lenders and spreads individual NFT valuations and risks across the pools.
The newly-found interoperability in these ERC20 tokens also opens the doors for further use of the assets throughout the rest of the DeFi ecosystem — with virtually endless possibilities.
About Drops DAO
Drops DAO brings DeFi-style infrastructure to NFTs, adding much-needed utility to idle NFT assets. Users can leverage their NFTs to obtain loans and earn real yield, reducing the opportunity cost of holding NFTs long-term.
This Drops DAO infrastructure will become increasingly important as we witness the rise of “financial NFTs” — an expansion of the space beyond digital artwork into more tangible financial instruments.
Drops DAO will offer gasless transactions and a smooth user interface by leveraging the layer-two platform Polygon, enabling fair and frictionless participation for all users.
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About Picipo
Picipo is a unified NFT management platform & marketplace built on commit-chain by Polygon. Using the Picipo platform, users can go all the way through NFT creation by choosing the preferred monetization model.
The platform goes beyond the online market and crypto society, solving the native problems of the fiat market. Thus, Picipo is a place where it becomes easy for everyone, even not aware of the blockchain technology, to create, buy, sell and leverage NFTs in its user-friendly interface uniting various NFT + DeFi tools and mechanics.
