NFThis - A Blockchain-Based Neo Bank and NFT Marketplace for Minting, Lending and Borrowing NFTs

NFThis is a safe, efficient, and time-saving application that allows you to take instant loans with NFT as collateral. NFThis reduces the complication of taking loans for both borrower and lender and makes sure that all the transactions are secure and transparent. In the current borrowing process, loans are not flexible, forcing the borrower to pay the exorbitant interest charged by banks. This is an application that will allow users to borrow money at a low-interest rate and use their digital assets to secure a loan. The funds and the NFT ownership are transferred over Ethereum for additional security. We aim to reduce risks for both the borrower and the lender by releasing loan funds through appropriate smart contracts. Additionally, we attempt to limit fraud on our platform by incorporating Escrow smart contracts that help build trust between the lenders and prevent discrepancies. We also included an algorithm to calculate the risks associated with lending the amount to the borrower. The interest on loans is less to encourage cash flow on the platform, ultimately benefiting the nation's economy.