What is NFT？
NFTs are entirely unique and are one-of-a-kind tokens that cannot be interchanged with something else. For example, 1 BTC can be exchanged for another BTC, and its value is exactly the same, which means it is fungible. Non-fungible things are unique pieces of art or painting which cannot be replaced with anything else. There is only one original Starry Night painting in the world, and all others are just photos, prints, or recreations, and this is what non-fungible is. The non-fungible tokens represent those items.
NFTs are assets sold digitally, where people buy the ownership of that particular unique digital asset. They are also a class of cryptocurrency assets with each token being completely unique. Currently, Ethereum is the leading blockchain service for NFT buying and selling, but there are other blockchains that are becoming increasingly popular as well.
Real assets&digital assets
Physical assets such as real estate, vehicles and digital assets such as cryptocurrenc, game props also can be collaterals. If the loan contracts overdue, the collaterals will be converted to the NFT trading marketplace.
Comparing with traditional banking services and existing digital lending platform, biCredit platform is a 2.0 lending platform that offer the most flexible mortgage method. We also increased the liquidity for poorly liquid physical assets.
Trading platform
With OpenSea as the representative, creators can upload their created NFT to the platform, and other users or collectors can choose their favorite works to purchase. The platform charges a small amount of handling fee for operation, and all the remaining income goes to creators. On the one hand, the emergence of such a public trading platform protects the copyright of works by taking advantage of the characteristics of NFT; on the other hand, it maximizes the profits of creators and returns the profits deprived by intermediaries in the traditional art industry to creators.
For investors
In traditional financial services, a financial product has a long redemption period. Some lenders need to cash out quickly and pay some price in exchange for liquidity. biCredit fully understands the liquidity request and allows the lenders to put their unexpired financial products into the NFT trading marketplace.
biCredit accepts various stablecoins, such as USDT, USDC, DAI, FUSD. Provide different expected APY depending on the different currency and expiration date. When Investor wants to redeem early, it can convert the financial products into NFT and sell it for liquidity.(The specific details will be announced after the biCredit launched.)
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