Peer-to-Protocol NFT Lending: $JPEG

Key Insights:

• The NFT market just ballooned in value. If history is any indication, the demand for on-chain NFT-focused lending services may follow.
• Most NFT lending platforms historically have used a peer-to-peer approach, but JPEG’d introduces a token-integrated peer-to-protocol approach that increases speed at the cost of customizability.
• Because of its utility-driven tokenomics, demand for the JPEG token is correlated with demand to maximally utilize the platform.
• Headwinds facing the protocol include declining market volumes and a large, quickly-vesting team allocation.
• Tailwinds for the protocol include faster UX, an open market vertical, and an experienced, well-capitalized team.

On the off chance you missed it, NFTs went from effectively 0 to $17 billion in market cap in just the last year. On-chain generative art, Bored Apes, Milady’s, and so many other NFTs gained valuations many thought impossible not so long ago.