PawnHouse
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| Date | Investors | Amount | Round |
|---|---|---|---|
$20.0k | Early VC | ||
| Total Funding | 000k | ||
PawnHouse operates as a specialized financial services platform within the cryptocurrency and FinTech sectors, focusing on the emerging market of Non-Fungible Tokens (NFTs). The company was established in 2021 with its headquarters in Tokyo, Japan.
The core of PawnHouse's business is providing collateral-based loans, effectively acting as a pawnshop for digital assets. Clients can pledge their NFTs as security to obtain peer-to-peer loans through the platform. This process is managed through smart contracts, which automate the traditional pawning procedure for the digital realm. The business model aims to solve the critical issue of illiquidity and price discovery for non-standard assets like NFTs. By facilitating these transactions, PawnHouse provides a mechanism for NFT holders to unlock cash value from their assets without selling them outright.
Revenue is generated through its price discovery and lending platform. A key feature is the auction system for pawned assets that are not redeemed by the borrower, allowing the market to determine the price of the collateral. The company also introduced a concept of "pawn tickets," which function as asset collateral bonds. These tickets are designed with a transfer model that encourages market-based bidding, creating a secondary market for the debt itself. In October 2021, the company announced it had completed a seed funding round. However, as of June 2024, the company is reported to be out of business.
Keywords: NFT collateral, NFT loans, digital asset lending, decentralized finance, DeFi, peer-to-peer lending, P2P loans, crypto-backed loans, smart contracts, asset liquidity, price discovery, digital pawnshop, blockchain finance, FinTech, NFT auction, crypto lending, Tokyo startup, NFT financial services, digital asset collateralization, non-fungible token finance