Applied NFT Financing
As I understand is that a shipping company needs collateral to move goods and turn a profit in a trade. So Tinlake gives investors the opportunity to put up the collateral to receive a return using Dai (a stable crypto coin based on the US dollar). This allocation of Dia is spit up into two categories. A high risk high reward category called Tin. Tin is paid last having the most risk if there is a loss but a higher return on a successful trade. The other category is Drop. It has a lower risk and a lower return. They are paid first and take up most of the Dai on any given trade. Any goods that use an invoice can be financed in this way.
This is done by the use of NFTs.
[Non-fungible tokens and their smart contracts allow for detailed attributes to be added, like the identity of the owner, rich metadata or secure file links. The potent of non-fungible tokens to immutably prove digital ownership is an important progression for an increasingly digital world. They could see blockchain’s promise of trustless security applied to the ownership or exchange of almost any asset.]1
So these invoices are turned into NFTs to secure the contracts and payouts to the investors. The investors invest using a scale of Tin and Drop tokens based on the risk they want to take. The NFT’s smart contract executes once the trade is completed.
This Tinlake is just one step in NFT financing. This brings the world market of financiers to any project. I can see it impacting many places of the world. The Tin and Drop tokens are only tokens in the Tinlake space. The network will be the centrifuge network that will be able to handle more use cases. So if you have a project trading or financing products in solid space centrifuge is doing some interesting things.
This kind of news makes me extremely excited and I hope to create something to go onto the network soon.
Serviver Man
1. https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain
