NFT Lender, Shut In January, Now Demands $500 For Late NFT Withdrawal
Parallel Finance, a renowned non-fungible token lending protocol, has reportedly shut down after four years of service delivery. Unfortunately, hundreds of thousands of dollars’ worth of high-profile non-fungible token collections have remained stuck inside Parallel Finance contracts after the NFT platform quietly shut down its lending product earlier this month. In this article, we will discuss this news bulletin in depth. Parallel Finance Quits NFT Space Earlier this week, speculations emerged that Parallel Finance had shut its doors after four years. On-chain sleuth 0xQuit drew attention to the issue over the weekend, posting on X that collections like Bored Ape Yacht Club, Mutant Ape Yacht Club, and Doodles were still sitting inside Parallel vaults. Based on current floor prices, the stranded non-fungible tokens are valued at over $800,000, though some rare traits could push the number even higher. The vaults of the now defunct Parallel Finance own 11 BAYC, 39 MAYC, and 2 ...