"Dozens of Bored Ape Yacht Club non-fungible tokens (NFT) used as collateral for loans sit perilously close to being forcibly sold, and there's worry that could trigger even more liquidations."
Talk about First World problems and what a strange world we live in these days. JPEG images of cartoon apes used as collateral to borrow millions of dollars worth of crypto currency may have to be sold at crypto auction which could trigger even more "foreclosures." Keep in mind these loans are pegged to actual US dollars.
In the traditional world you could take a loan from a bank using your home as collateral - not even sure how to finish this sentence since this situation is so strange on so many levels.
Wonder if FarmersOnly.com will be coming out with their own NFT's. That's when you know we've truly turned the bend.
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