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When one is looking out to get funds, the collateral assets play a major role in getting loans. The NFTs are digital assets with real-time value that is stored on blockchain technology. The NFTs can be the collateral assets for getting the funds on the NFT lending platform. These permission-less decentralized lending platform accommodates digital assets and offers loans. The feature that plays a major role in this platform providing NFT collateralized loans is smart contracts. They facilitate and act as an intermediary when providing a loan.

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