The tool, launching on Friday, will initially support Ethereum loans and NFTs from Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki and Doodles collections.
Binance marketplace is launching a non-fungible token (NFT) loan feature where digital asset holders can secure ETH loans by using their NFTs as collateral.
The new service, called Binance NFT Loan, "will allow people to use blue-chip NFTs to borrow crypto, starting with ETH, introducing the benefits of DeFi to the Binance NFT community," Binance said in a press release.
