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Rocket, an NFT lender, completed its first ENS domain mortgage for 6.5eth

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The loan was made to ENS 'director of operations, who said the name Brantly was his first name and meant a lot to him.

BlockBeats news, Cointelegraph reports that Rocket, an NFT lending company, has announced the completion of its first ENS domain mortgage.

Rocket this week reportedly issued a $1,000 ETH loan (6.5 ETH), secured by the ethereal business name brantly. ETH, for three months at 15 percent interest.

The loan was reportedly made to Brantly Millegan, ENS 'director of operations. Although Millegan retains the domain name for the duration of the loan, Rocket has ownership of the domain. If the loan defaults, Rocket retains ownership of the domain and has the right to cancel Millegan's access to the domain altogether.

'Brantly is my first name, and this particular ENS domain is of great personal value to me, so I have a strong incentive to repay the loan,' Millegan explained in a post on Medium, although the generic domain isn't worth the price.

Source link:https://cointelegraph.com