Description
PawnHouse is a Non-Fungible Token (NFT) pawnshop and broker that offers collateral-based loans. It uses traditional pawning procedures in the form of smart contracts to make NFT digital assets available for P2P mortgages and loans. The pawn ticket contracts created in the pawning process adopt a transfer model similar to the Harberger tax, which obtains a reasonable debt-income market through market-based bidding of asset collateral bonds (pawn tickets). Pawn assets that cannot be redeemed are placed into an auction, where free-bidding determines their market price. The company has completed a $2 million financing round to power its NFT pricing solutions.