NFT Market Update: October 4, 2024

**Bored Ape #3180** was used as collateral for a **2.32 ETH loan** on Cyan this week. The move demonstrates how NFT holders can **unlock capital efficiency** rather than keeping valuable assets idle. Cyan's lending platform allows users to: - Use NFTs as loan collateral - Access liquidity without selling - Maintain ownership of digital assets This follows similar activity, with **BAYC #7896** securing a $31,500 loan earlier this month on the same platform.

**Another Bored Ape NFT loan completed** - A holder borrowed 10,791 USDC against Bored Ape #6939 through Cyan's lending platform. **Growing trend among BAYC holders** - This follows a pattern of Bored Ape owners accessing liquidity without selling their NFTs. Recent loans include: - 10,767 USDC against #2931 (Nov 11) - 7,241 USDC against #1362 (Oct 20) **Key benefits for NFT holders:** - Access liquidity while keeping ownership - Retain rights to future airdrops - Avoid selling valuable assets Cyan enables NFT owners to unlock their assets' value through collateralized loans, providing an alternative to outright sales.

**Cyan enables NFT holders to access liquidity without selling their assets**, particularly targeting Hypurr NFT owners who are waiting for potential airdrops. **Key benefits:** - Access cash from your NFT while keeping ownership - Retain eligibility for all future airdrops - No need to sell valuable NFTs This solution addresses a common dilemma in the NFT space where holders want liquidity but don't want to miss out on potential rewards or lose their digital assets. **Perfect for collectors** who believe their NFTs will receive airdrops but need immediate access to funds.

**Hypurr NFT holders** can now claim their **$KNTQ airdrop** while maintaining access to their NFT's liquidity. **Key Benefits:** - Access NFT liquidity without selling - Keep all future airdrops - Maintain ownership of Hypurr NFTs Cyan Wallet enables holders to unlock their NFT's value while retaining ownership rights and airdrop eligibility. This solution addresses the common dilemma of choosing between liquidity and holding valuable NFTs for potential rewards. Hypurr NFTs are positioned as prime candidates for **HyperEVM airdrops**, making this liquidity solution particularly valuable for long-term holders.

A Pudgy Penguins holder borrowed **9,969 USDC** against their NFT #1851 through Cyan's lending platform. This follows a pattern of active NFT utilization, with previous loans including: - 13,651 USDC against Pudgy Penguins #5503 - 4.79 ETH against Pudgy Penguins #7054 **Key developments:** - Cyan now offers loans on Hypurr NFTs from Hyperliquid - Borrowers keep all airdrops and rewards - BNPL for Hyperliquid NFTs launching soon The platform encourages NFT holders to **unlock liquidity** without selling their assets, turning idle collections into working capital.