Staying on track to its goals, the Hoard marketplace has announced the public launch of its NFT Marketplace on Ethereum mainnet today. Describing the importance of the launch, Radek Zagórowicz, the CEO of Hoard, said that “this is the first step of further development of novel NFTs functionalities/utilities.” He also expressed his faith in the marketplace’s Loan feature to open “new possibilities for NFT holders.”
The Loan feature is one of the capabilities that the Hoard users would be able to leverage from day 1. The other feature is Stake. As for the Build and Trade features, they will be rolled out in the third quarter, while Rent and Governance will be available from Q4 2021 onwards.
The Loan feature works as a peer-to-peer lending platform. Users can utilize their NFTs as collateral to avail cryptocurrency loans. The borrowers are further eligible to invest the funding they receive, whereas, the lenders can offer their stablecoins to generate interest income. Hoard’s NFT marketplace supports many ERC20 tokens.
The process to participate in the Hoard NFT marketplace is simple and convenient. Users can list their NFTs for trade in the marketplace or explore them for purchase. The marketplace has a user-friendly interface to curate digital goods, simplifying the developer-user transactions. The items that the platform focuses on include user-owned in-game items, real estate, digital art, domain name, and many more.
The stake functionality is an incentivizing mechanism for the users. Users can offer their HRD tokens to add liquidity to the HRD/ETH trading pool on Uniswap to receive UNIV2 tokens on the marketplace. It makes them eligible for rewards on both the Uniswap and Hoard platforms. Users staking their HRD-derived tokens receive a part of the platform fees back in a form of staking rewards.