Patek Philippe Watch Used as Collateral in Decentralized Loan via NFT

07/12 00:25

An individual was able to secure a $35,000 loan using a Patek Philippe watch as collateral through the decentralized lending platform, Arcade. The watch was verified and held in escrow by the 4K Protocol, with the borrower engaging an escrow company to store the watch and issue a unique non-fungible token (NFT) representing ownership.
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