A new program is offering the opportunity to secure a non-fungible token from a series of “blue chip” collections now and pay for it later. Here’s how the popular “buy now, pay later” financing program that has taken on several industries is now headed to NFTs .
What Happened: Decentralized lending protocol Teller , which is based on the Polygon (CRYPTO: MATIC ) platform, is offering the opportunity to make a down payment and take out loans on NFTs and pay them off over time, according to a report from Decrypt .
The new service is called “Ape Now, Pay Later.”
Teller CEO and founder Ryan Berkum said the new offering fills a need in the NFT market, particularly for expensive collections.
“Buying NFTs is one of the core things Web3 consumers want to do right now,” Berkum told Decrypt. “Buy now, pay later is a no-brainer.”
Down payments under the financing can cost as ...
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