Yield Protocol, the open-source platform which allows anybody to create and execute yield farming strategies, is pleased to announce a partnership agreement with NFTrade, a multi-chain platform for NFT creation and trading.
NFTrade allows anyone to seamlessly launch, mint, and swap non-fungible tokens, placing them at the heart of the NFT economy. Thanks to this exciting partnership Yield Protocol users will be empowered to stake $YIELD tokens for rewards in the form of NFTs. One of the NFTs which users can hope to farm will grant holders early beta access to YieldShield on Binance Smart Chain.
The NFT market has stabilized after explosive growth in the first three months of the year, which saw the combined market cap of major NFT projects increase by 1,785%. Over the same time period, the market recorded $2 billion in sales. The NFT market has now cooled with weekly trading volumes below their March peak but remains substantially higher than the market of 2020. The NFT market remains in great health.
The combination of NFTs, yield farming gains and early access to automated yield farming on Binance Smart Chain, should provide a potent mix of rewards for holders of $YIELD tokens.
A spokesperson for Yield Protocol said:
“We are pleased to see the utility of the $YIELD tokens extended to the booming NFT market. Our partnership with NFTrade brings high potential commercial value to the YIELD token holders. “
A spokesperson for NFTrade.com said:
“Yield Protocol is an exciting project we are happy to join forces with. NFTrade is built to be a vibrant platform for all things NFT, and this partnership will allow the thriving Yield Protocol community to take an active and attractive part in what we are building”.