MMO Finance operates an NFT-collateralized lending platform where users can deposit whitelisted NFTs and borrow ETH against their market valuation; if a borrower defaults, the collateral is auctioned off on the platform's marketplace. On the other side, lenders can supply ETH to pools tied to specific NFT collections to earn APR. The platform also features a 'Bounty Hunting' vault where users can browse and bid on collateralized NFTs put up for auction, potentially finding deals. The service targets NFT holders seeking liquidity without selling their assets, as well as ETH holders and yield-seeking DeFi participants.
