NFT Lending Protocol Spice Finance Closes $1.7 Million Pre-Seed Round Led by Shima Capital

NFT lending protocol Spice Finance closed a $1.7 million pre-seed round led by Shima Capital with participation from Protofund, Big Brain Holdings, Origin Protocol, and others.

Spice will kick off by introducing a yield optimizer and liquidity routing protocol for NFT lending markets. This will help lenders passively deploy capital onto NFT marketplaces for yields. Spice Finance will improve the complicated and time-consuming NFT lending process by aggregating all outstanding loans and pools, developing algorithmic lending strategies on top, and delivering users simple and transparent vaults that return NFT lending yields.

Spice's lending aggregator is reportedly now in beta and the protocol will be launched in the coming months.