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BNPL (Buy Now Pay Later)
Gondi V2 allows users to purchase whitelisted collection NFTs with a Gondi loan across most major marketplaces.
Eligible items for sale are displayed on Gondi's dapp. Once a buyer selects the desired item, they need to choose which loan offer to use.
Gondi's buy now pay later bundles the principal of the selected loan offer with the missing balance from the buyer's wallet to purchase the NFT. Within the same transaction, the NFT is transferred to Gondi's escrow contract. The buyer will be able to claim the NFT once the loan principal & accrued interest are repaid.
Buyers can select a partial amount of principal in case they want to make a larger initial payment.
The mechanics after purchase for BNPL are identical to any loan. Loans that were used for BNPL can also get refinanced, extended, renegotiated, and repaid.
Last modified 8d ago