A crypto liquidity protocol for the NFT industry—Taker Protocol—has raised $3 million from various investors and is now looking forward to building a new order of selling and buying NFTs on the crypto market. The round was led by Electric Capital, DCG, Ascentive Assets, Dragonfly Capital, Spartan Group, The LAO, Sfermion and Morningstar Ventures.
Taker Protocol builds a new NFT market experience. Due to the nature of NFTs, solutions from the DeFi industry cannot be easily implemented on the market, which creates a significant issue in terms of overall market liquidity. The value of each non-fungible token is extremely volatile and sometimes falls to almost zero due to a lack of buyers. NFTs are great products that cannot yet be properly traded with high liquidity and, in the end, they gather dust in users' wallets.
Taker Protocol will solve this problem by allowing lenders and borrowers to liquidate and rent assets like non-fungibles. By adding new liquidity streams, markets, including NFTs, will become more pleasurable for potential investors and attract new sources of funds.
The funds collected in the investment round will help Taker to launch the finalized version of the protocol across multiple chains like Ethereum, Solana, Binance Smart Chain and Polygon. Thanks to the support of stakeholders, the project will be able to continue intensive development.
Taker DAO consists of numerous Curator DAOs, each of them managing its own whitelist and the floor price for any NFT. To mitigate the risks of lenders, they will select only trusted NFTs chosen by the project's community. By creating adjusted interest between DAOs and lenders, the project minimizes the risk of exposure for lenders and optimizes profits for DAOs.
Each DAO will have its own fund and will be able to focus on specific types of NFT assets. Decentralization will allow Taker Protocol to redistribute liquidity between diverse artworks like portraits, generated art or metaverses.
Taker is one of the first protocols that will provide liquidity to the NFT market through a wide network of DAOs. It is a cross-chain lending protocol for lenders and borrowers that allows them to liquidate and rent various financial assets. Taker's liquidity-providing solutions can be integrated into NFT marketplaces.