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Fungify
Fungify is a decentralized finance (DeFi) protocol for non-fungible tokens (NFTs), describing itself as an "NFT Bank." It provides liquidity and financial instruments for the NFT market through two main components: "Index," a permissionless NFT exchange-traded fund (ETF) that creates a yield-bearing NFT index token ($NFT), and "Pools," a cross-margin money market for lending and borrowing NFTs and other crypto assets. The protocol is governed by a DAO, utilizes its own governance token (FUNG), and emphasizes security through extensive audits and real-time monitoring on the Ethereum blockchain.
Distributed
Funding Rounds
Funding Round: Unknown
Funding Date: 1 Feb, 2023
Raised Amount: $6M