Ok so here we go again, I’m now trying out ANOTHER NFT lending platform. This one is called NFTfi. Similar to Arcade, it asks me to approve a maximum amount of weth the platform is authorized to transfer on my behalf if a deal goes through. By doing this, I don’t have to pay gas just to make loan offers.
I rushed through doing this one and did it from my phone instead of a desktop browser. There were A LOT of ENS names listed on the platform which was great because I consider those kind of NFTs to have some utilitarian substance to them versus “picture files.” ENS names expire so I took the care to check the expiration date of the two I made offers on ahead of time. One was artloan.eth and the other was hotbabe.eth (lol) that I chose at random in a rush. They actually expire in 3 months and 14 days respectively. Although this is technically a worst case scenario for a lender, I made offers anyway because I figure they’d probably be very open to accepting money for names close to expiration. My goal at this point is only to see what happens and assess the user experience rather than try to make any money yet.