NFT loans
NFT of real-world items that can be used as collateral in Aave and become an liquid asset
Project Description
This project is a platform where people can create NFTs based on real-world items that have been upcycled. The platform emits and NFT which is the deed of ownership of the real-world item and people can share and sell their handmade products. The NFT can be used in a lending protocol as collateral and thus becomes a liquid asset. People create "money" and "value by sharing kindness, empathy and love.
How it's Made
I have created scripts which create IPFS/filecoin URLs for the NFT image. I have minted the NFTs on the Polygon network using the ERC721 token standard. Polygon was my choice of preference because of the low gas fees and scalability. IPFS/filecoin is a good choice so the image of the real-world item is stored decentrally.
