NFT Mortgage: Explained
Buy now pay later: NFT Mortgages
A mortgage is an innovation of JewelSwap, allowing you to buy your favorite NFTs, without having the total value of the required price.
Let's say you want to purchase an NFT that costs 6 EGLD on the open market. But you only have 3 EGLD available right now.
Now you can see, why this is similar to the NFT Loans: The user now has a position of 3 EGLD debt (50% of the NFT's value) and the NFT is held as collateral on the platform. This is the same situation as if the user would have opened a 3 EGLD borrow against his NFT.