A cryptocurrency liquidity protocol for the NFT industry – Taker Protocol – has raised $3 million from various investors and now looks to establish a new order of NFT sales and purchases in the cryptocurrency market. The round was led by Electric Capital, DCG, Ascentive Assets, Dragonfly Capital, Spartan Group, The LAO, Sfermion, and Morningstar Ventures.
Taker Protocol establishes a new NFT market experience. Due to the nature of NFT, solutions in the DeFi industry cannot be easily implemented in the marketplace, which creates a major problem in terms of liquidity across the market. The value of each uncounterfeitable token is very volatile and sometimes drops to almost zero due to lack of buyers.NFTs are great products, but cannot yet be traded properly with high liquidity and eventually, they gather dust in users’ wallets.
Taker Protocol will solve this problem by allowing lenders and borrowers to liquidate and rent NFTs. By adding new liquidity streams, the market, including NFTs, will become more pleasant for potential investors and attract new sources of funding.
The funds collected in this investment round will help Taker launch the final version of the protocol on multiple chains, including Ether, Solana, Binance Smartchain and Polygon. Thanks to the support of stakeholders, the project will be able to continue its deeper development.
The Taker DAO consists of numerous Curator DAOs, each managing its own whitelist and floor price for any NFT. To mitigate risk for lenders, they will select only trusted NFTs chosen by the project community.By creating an adjusted interest between DAOs and lenders, the project minimizes risk for lenders and optimizes profits for DAOs.
Each DAO will have its own fund and will be able to focus on specific types of NFT assets. Decentralization will allow the Taker protocol to redistribute liquidity between different artworks, such as portraits, generated art or meta-paintings.
Taker is one of the first protocols that will provide liquidity to the NFT market through the extensive DAO network. It is a cross-chain lending protocol for lenders and borrowers, allowing them to liquidate and lease a variety of financial assets.Taker’s solution for providing liquidity can be integrated into the NFT marketplace.