Pawnfi is now going into partnership with bitsCrunch, the NFT ecosystem guardian, to build a NFT ecology with reinforced safety and trust. By virtue of the prominent backers of bitsCrunch and Pawnfi such as Polygon, Coinbase, and Animoca Brands, we will set out our footprints firmly in the NFT space, and Pawnfi will lead a path for both of us to explore DeFi, Gamefi, and metaverse beyond with higher level of safety, integrity, and functionality in the coming future.
Pawnfi aims to construct a high-performance ecosystem with its financial tools of collateral loan/ lease/ sale/ appraisal, which allow bitsCrunch to leverage on myriads of users’ feedback to support the growth of its AI products. Moreover, with Pawnfi’s additional use cases of DeFi, GameFi, and other non-standard assets (NSAs), bitsCrunch can easily delve into diversified metadata more than just NFTs available at Pawnfi’s marketplace. Since bitsCrunch is developing their products based on artificial intelligence, Pawnfi will offer dynamic price references from the deals closed, for bitsCrunch to build robust AI models that can analyze a reasonable price range of NFTs from overall spheres rather than uni-lateral perspectives, for instance, a creator’s perspective.
While the trade volumes in NFT marketplaces thrive, NFT inflation is ramping due to the manipulating sales caused by wash trade and asset forgery. On top of that, Pawnfi is dedicated to taking precautions to safeguard user experience against any malicious patterns. After establishing variable trade modules and appraisal services, Pawnfi will adopt bitsCrunch as one of NFT analytics partners to verify the validity of all transactions, and ensure that all the assets circulating across the platform are authentic. With the AI-enabled security tools include Scour, a wash trade watchdog, and Crunch DaVinci, a forgery detection system, Pawnfi will put a stop to suspicious activities like wash trades and fake price estimations of NFTs within the marketplace.
What’s more, Pawnfi will explore collaborations between Pawnfi Appraisal module and bitsCrunch’s price value estimator, Liquify, to provide real-time valuation for users to invest with less effort and pressure. By accessing various data sources on Pawnfi.com, bitsCrunch will reach more DeFi, NFT and GameFi players, and can assess their transaction history and behaviors to refine its scoring tool for data analytics. Based on this reciprocal collaboration, bitsCrunch will be another supporter for Pawnfi to fill a niche in NFT market, and guide the newcomers to a secure direction in the Crypto space.
“We are pleased to work with Pawnfi”, said Vijay Pravin Maharajan, bitsCrunch CEO, “Pawnfi will support the growth of bitsCrunch. We stand ready to contribute to a safe and reliable NFT space with our AI-powered security services on Pawnfi’s platform, and keep Pawnfi users well-informed of NFT fair evaluation.”
Wesley Kayne, the founder and CEO of Pawnfi, said this partnership is fundamental to the construction of Pawnfi. “We are excited to have bitsCrunch to safeguard Pawnfi financial infrastructure jointly. Pawnfi will also deliver more resources to bitsCrunch’s AI Analytics. We’ll work closely together to provide tier 1 protection to every single participant”.
About
bitsCrunch is the Guardian of the NFT ecosystem. It offers buyers and sellers potential tools like Scour, Crunch DaVinci, and Liquify, to identify digital wash trading, asset forgery, the true value of assets and such more value addition to the ecosystem.
Pawnfi.com is the first DeFi product which introduces the pawn concept, also the first lending and leasing market to provide fair appraisal and liquidity for Non-Standard Assets (NSA). Besides supporting mainstream assets, Pawnfi covers all types of Non-Standard Assets including Non-Fungible Tokens (NFT), Liquidity Provider Tokens (LP Tokens), tokenized insurance, bonds, bills, derivatives, and minor cryptocurrencies with relatively less liquidity. Pawnfi has achieved the divestiture of asset ownership, use rights, and earning rights within the product in an innovative way, so that asset holders and users can maximize capital efficiency. Compared with other lending protocols in the industry, Pawnfi can provide a wider range of asset support, a more flexible loan portfolio, and more diversified asset realization solutions.
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