zashEnterprise-grade blockchain indexer has announced a partnership with Nexo. As part of the partnership, Nexo will integrate Zash into its platform and develop new NFT rating and pricing tools.
This integration is part of Nexo’s broader efforts to extract more liquidity from the cryptocurrency market and expand its offering. In December 2021, Nexo entered the irreplaceable field with the launch of his NFT Lending Desk.
The service allowed users to derive instant liquidity from their NFT holdings through a white glove service that offers a dedicated account manager and no pre-maturity liquidation or credit checks. Nexo has since offered his NFT-backed loan, the largest in the world worth $3.3 million. That latest, his NFT-backed $1.3 million worth was issued for two rare mutant apes.
Cryptocurrency lending has grown from a niche product to a fully grown market and has become commonplace over the last few years. The launch of NFT lending has further expanded the market, and continued adoption of NFTs is expected to grow the market to over $230 billion by 2030.
Kiril Nikolov, Head of DeFi Strategy at Nexo, said real-time mark-to-market capabilities are essential to making the NFT lending space more efficient and accessible. Zash prides itself on being the perfect choice for rating providers due to its speed, accuracy, and reliability.
Zash CEO and co-founder Parit Patel said: “NFT and he said the DeFi market is becoming increasingly intertwined and we are excited to work with established brands in cryptocurrency lending in their efforts to expand NFT’s pricing, valuation and lending capabilities. “
Over the next few months, the Zash team will work with Nexo to provide clean, labeled, and indexed NFT data to feed their rating and pricing models. The company says it is currently “in conversations” with other major exchanges, marketplaces and lenders to further expand its data product offerings. As the product continues to grow and the NFT space diversifies, Zash also plans to expand into new chains.
