NFT lending platform NFTfi has announced an agreement upgrade on X platform, which now supports NFT loans for up to 5 years (previously the limit was 1 year). Some users have already obtained a 2-year loan through Chromie Squiggle, with an annual interest rate of 10% and an LTV of 74%. This upgrade also supports ERC-1155 assets, including various real-world assets (RWA) such as unlocked art, collectibles, real estate, and intellectual property as NFT collateral.

In addition, this agreement upgrade also unlocks several other features that will be launched by the end of this year, such as refinancing and proportionally repaying interest. It should be noted that this upgrade introduces a new contract address, and users need to grant new permissions. Other than that, no further action is required, and existing loans will end on the current (old) contract.