en
Back to the list

Unknown Collector Uses Mutant Ape NFTs to Purchase a Third in a $1.3M Deal

NFT

www.cryptonewsz.com 30 September 2022 08:00, UTC
  
Reading time: ~2 m

An unnamed and anonymous collector successfully negotiated a deal with the Mutant Ape to purchase one-third of a whopping $1.3 million. As a result of this excellent outcome, the Mutant Ape NFTs have been automatically significantly reinforced. This unknown face, most likely in the shape and identity of a collector, most certainly presumed and thus concluded that the Mega Mutant Apes are purportedly stronger and more fearsome when they are together. They allegedly accepted the tremendous risk of closing the transaction and bolstering the blue-chip NFT catalog based on his alleged assessment.

It was incidentally a three-member organization going by the name of Fragment that brought to the forefront the ETH loan, which inadvertently is to the tune of $1.3 million. The company Fragment is, in actuality, involved in the ultimate creation of highly successful and effective stories and narratives, coupled with worlds, intending to place them in the metaverse correctly.

This loan was brought out on Tuesday to purchase Mega Noise. Mega Noise, a crucial component of the Yacht Club library of Mutant Ape and an exclusive NFT in the fold and ownership, so happens to be. The risk factor, however, in this very case scenario is that two other Mega Mutant Apes in the fold and possessing Fragrant will be lost if they cannot return the loaned amount by the end of ninety days. 

The ETH was given by cryptocurrency lender Nexo at a yearly interest rate of 18%. Fragment’s founder, known online as ptm, admitted to The Defiant that he is aware of the risk he has taken.

According to Kiril Nikolov, part of Nexo’s NFT lending team, APRs [in NFT financing] are extremely high. The primary cause is that there isn’t much demand for this product yet, and lenders don’t fully grasp the risks associated with the collateral or how to insure against them.


   Source
Back to the list