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London, England, October 10, 2022 / Zash is the fastest, simplest and most accurate blockchain indexer working with clients such as Binance. Zash has now partnered with Nexo, a leading regulated digital assets institution with $4 billion in assets under management, to assist in providing the core data infrastructure, allowing the team to develop valuation and pricing tools to unlock the liquidity locked up in NFTs.
Parit Patel, CEO & Cofounder at Zash:
“The financialization of NFTs is inevitable as NFT holders seek to unlock liquidity in these challenging markets. The NFT and DeFi markets continue to become further untwined and we’re thrilled to be working with an established brand in cryptocurrency lending in its efforts to expand its capabilities in NFT pricing, valuation and lending.”
Innovations in the DeFi space have improved upon familiar TradFi mechanisms. Crypto lending is now commonplace, offering an alternative to conventional financial products. With continued adoption of NFTs and the industry expected to reach over $230 billion by 2030, NFT lending will similarly play a pivotal role in merging traditional, decentralised and crypto finance. As NFT holders seek ways to unlock liquidity and protect themselves against the expected volatility of the emerging market, lending is a tool to continue the expansion of the sector, whether that’s to lend for a profit or to acquire further NFTs.
In December of 2021, Nexo announced their expansion into the NFT space with the NFT Lending Desk. Users can unlock instant liquidity through a white glove service, offering dedicated account managers, no liquidations before maturity and no credit checks. In addition Nexo has issued one of the largest NFT-backed loans - worth $3.3 million, and most recently another large loan worth $1.3M against two rare Mutant Apes. It has its sights firmly set on spearheading development in the MetaFi sector. Volatility combined with the unique and illiquid nature of NFTs makes appraising the current value challenging and it is committed to investing in enterprise grade tooling to evaluate the space.
“We believe that real-time mark-to-market capabilities are crucial to making the NFT lending space more efficient, accessible, and automated. Having reviewed different providers, we support Zash’s vision of real-time NFT valuations because this tool would give our lending desk a competitive advantage in the form of speed, accuracy, and reliability. By working closely with Zash, we are on track to reach our objectives in the NFT space and unearth the immense potential of this maturing asset class” said Kiril Nikolov, DeFi Strategy at Nexo.
The Zash team has been working with Nexo to provide clean, labelled and indexed NFT data to feed its valuation and pricing models. The Zash team is in conversation with other major exchanges, marketplaces and lenders to extend the reach of their data product offering. As the space continues to diversify, the Zash team will be expanding to new chains and broaden its blockchain data offering.
Zash is the most accurate, fastest and simplest blockchain indexer, providing enterprise grade data accuracy. As the read-middleware for the blockchain data, Zash’s multi-chain NFT data API covers over 140k NFT collections and 35+ marketplaces, automatically indexing across Ethereum, Solana and BNB chain. Zash’s data stack includes a simple API and SDK built to provide a delightful developer experience to institutions to build their own composable blockchain data solution from ground up and launch faster with Zash’s curated datasets. Zash uses advanced data science techniques to parse and label trades, collections and marketplaces at scale across all major blockchains. Zash’s system converts the long mix of addresses and convoluted transactions on chain to an easily digestible format, empowering users to make well-reasoned data-informed decisions.
Nexo is the world’s leading regulated digital assets institution with over $4 billion in assets under management. The company’s mission is to maximize the value and utility of digital assets by offering a comprehensive suite of products that include advanced trading solutions for retail and institutional clients (Nexo Pro and Nexo Prime), aggregation of liquidity from leading venues, tax-efficient asset-backed credit lines, a high-yield Earn Interest product, all accompanied by top-tier custodial insurance and military-grade security of the Nexo Platform and Wallet. In early 2022, the enterprise launched its investment arm Nexo Ventures, which now boasts over 60 portfolio companies. Nexo has processed $100+ billion for 5,000,000+ users across more than 200 jurisdictions.
Visit nexo.io to learn more.
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