5WPR Welcomes Marketplace for NFT Collateralized Loans, NFTfi, to Growing Roster of Cryptocurrency Clients
NEW YORK, Nov. 23, 2021 /PRNewswire/ -- 5W Public Relations, one of the largest independently-owned PR firms in the U.S., announces today it has been named PR agency of record for NFTfi, a peer-to-peer loan marketplace allowing non-fungible token (NFT) holders to unlock the liquidity of their NFT assets in the form of cryptocurrency loans.
Founded in 2020, 5WPR will work with NFTfi to build brand awareness, highlighting their service as a pioneer within the NFT collateralized loan category, as well as position them as a solution for both borrowers and lenders. The NFTfi platform is blockchain and smart contract-based, directly connecting lenders and borrowers who then negotiate loan terms between themselves.
“The NFT market has quickly expanded with opportunities, and the space will only continue to grow as more types of NFTs, and uses for them, are introduced,” said 5WPR President of the Corporate and Technology Practice, Matthew Caiola. “As the world becomes increasingly more digital, NFTfi has recognized an additional opportunity for lenders and borrowers to benefit within this new category of digital assets. As an early adapter, their opportunity for growth is limitless.”
Earlier this year, 5WPR announced the creation of specialty cryptocurrency and NFT divisions. Services offered to the public relations clients include media relations, targeted outreach to industry publications, content creation, digital media campaigns, speaking opportunities and celebrity relations.
NFTfi is the leading marketplace for peer-to-peer NFT collateralized loans. Borrowers use their NFTs as collateral in order to obtain cryptocurrency loans while lenders can earn attractive yields. Since the first NFT loan in May 2020, over 2100 loans totaling more than $26.5 million in value have been executed using the NFTfi DApp (Decentralized Application). NFTfi’s vision is to support the seamless financialization of NFTs through its innovative protocol and user-friendly applications.
5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 250 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and Digital Marketing (Social Media, Influencer, Paid Media, SEO). 5W brings leading businesses a resourceful, bold and results-driven approach to communication. 5W was awarded 2020 PR Agency of The Year and CEO Ronn Torossian, was named 2020 Entrepreneur of the Year by the American Business Awards.
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SOURCE 5W Public Relations