Gate.io Blog Avalanche and Salvor's $1 Million Venture into NFT Lending: A Game-Changer for AVAX?

Avalanche and Salvor's $1 Million Venture into NFT Lending: A Game-Changer for AVAX?

22 May 11:13

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![](https://gimg2.gateimg.com/image/article/1690791857hotspot.jpeg)
## [TL; DR]
Salvor has entered the <a href="/price/avalanche-avax" target="_blank" class="blog_inner_link">Avalanche</a> Rush Program which may lead to a higher demand for NFTs and AVAX.

Salvor will enable users to use NFTs and memecoins as collateral against AVAAX loans.

The AVAAX price may reach$100.34 by the end of 2024 and $567.06 by 2030.

## Introduction
Success in the blockchain and crypto sector requires more than capital investment. Continued innovation, regulatory compliance and partnerships are vital for crypto projects to excel and overcome competition. For example, partnerships among blockchain firms can improve their e-token liquidity and expand their communities. This analysis looks at  Avalanche’s partnership with Salvor and how that can benefit the two crypto firms.

## Avalanche's Partnership with Salvor to Launch an NFT Lending Platform
Salvor, which was launched as an NFT marketplace in November 2022 and later evolved into a Peer-to-peer lending protocol, recently joined the Avalanche Rush Program, a move which will likely bring vibrancy [to the AVAX ecosystem](https://www.gate.io/price/view/avalanche-ecosystem "to the AVAX ecosystem"). Through its NFT and memecoin lending services, Salvor will attract many investors to the blockchain  which will increase its liquidity. The other features that will lure many investors are its NFT launchpad and liquidity pools.

Read also: [Custom NFT Marketplace Development and its Cost in 2024](https://www.gate.io/learn/articles/custom-nft-marketplace-development-and-its-cost-in-2024/2863 "Custom NFT Marketplace Development and its Cost in 2024")

Following the partnership the Avalanche Foundation gave Salvor $1 million worth of AVAX tokens as part of the deal. Generally, through this program Salvor will accept memecoins and NFTs as collateral for AVAX loans which will boost financial flexibility and liquidity in the Avalanche ecosystem. In the meantime, many other DeFi projects have joined the Rush Program, an important decentralized finance innovation on the Avalanche network. Through its X profile page, Avalanche posted the details of its partnership with Salvor as the image indicates. 
![](https://gimg2.gateimg.com/image/article/17163473661.jpg)
Source: x.com

## Understanding the Avalanche Rush Program
In 2021, [Avalanche AVAX](https://www.gate.io/how-to-buy/avalanche-avax "Avalanche AVAX") unveiled $180 million to kickstart its Avalanche Rush, a liquidity mining incentive program, targeted at attracting many DeFi projects and related applications to its financial ecosystem. The program which was rolled out in several phases integrated <a href="/price/aave-aave" target="_blank" class="blog_inner_link">Aave</a> and Curve during its initial stages and has improved financial flexibility in DeFi.

During that phase Avalanche distributed AVAX worth $20 million and $7 million to AAVE and Curve, respectively.  The other DeFi protocols that joined the Rush Program include Penguin Finance, <a href="/price/sushi-sushi" target="_blank" class="blog_inner_link">Sushi</a>, <a href="/price/gmx-gmx" target="_blank" class="blog_inner_link">GMX</a> and Struct Finance.

As mentioned above, the program makes borrowing of AVAX very simple since borrowers can use memecoins and NFTs as collateral. On the other hand, the lenders can earn interest on the funds they provide. Basically, this liquidity mining initiative enhances decentralization and brings financial flexibility in the Avalanche ecosystem. More importantly, Salvor brings cost efficiency to the platform as it streamlines trading through one-transaction bulk actions which saves time and reduces gas fees.

Salvor’s participation in the Rush Program promotes memecoin and NFT trading as well as token lending [on the Avalanche blockchain](https://www.gate.io/learn/articles/in-depth-analysis-of-avalanche-architecture/2254 "on the Avalanche blockchain"). What is also interesting is that the Salvador participants earn valuable points for the different activities such as trading, loan offers and borrowing. In the end, the users will be able to redeem their points for Salvor’s ART token or AVAX. The aim of the financial incentive in the form of points is to increase Salvor investment, promote market engagement and stabilize AVAX valuation.

Posting on X, Salvor highlights its contribution to the Avalanche Rush Program. Utku Salvor, [the Salvor founder said](https://twitter.com/turkcrazy07/status/1788653494448132374 "the Salvor founder said"), “We started as an NFT marketplace to make trading easier for our users. By introducing P2P NFT Lending, users can now borrow funds against their NFTs without needing to sell them. We believe this will play a key role in supporting healthy ecosystems. Our primary focus is to make NFTs more liquid."

On the other hand, Aytunc Yildizli, the CEO of the Avalanche Foundation has portrayed the alliance as strategic. He [said on X](https://twitter.com/turkcrazy07/status/1788653494448132374 "said on X"), "Salvor's participation in the Avalanche Rush Program marks a significant milestone for bridging DeFi and NFTs on Avalanche. By facilitating secured loans against NFTs, Salvor not only potentially enhances liquidity but also widens the scope for NFT owners to engage in the financial ecosystem without selling their assets.”

Salvor, the [NFT lending ](https://www.gate.io/learn/articles/what-is-nft-lending/775 "NFT lending ")platform, holds more than 800 NFT collections which include big names such as Dokyo, Steady, MadSkullz, and Chikn. In addition, Salvor’s NFT marketplace will attract many NFT owners to participate in the Avalanche DeFi ecosystem. Also, the peer-to-peer lending system will enable participants from all over the globe to provide digital asset liquidity or offer their NFT collections support.

## AVAX's Price Performance amidst NFT Market Downturns
The partnership may have a very [positive impact on the Avalanche AVAX price](https://www.gate.io/blog_detail/4043/crypto-whales-and-impact-on-avalanche-avax-price-analysis-and-predictions "positive impact on the Avalanche AVAX price"). This is because Salvor investment will further increase the utility of the token as well as the liquidity of digital assets within the Avalanche-Salvor crypto sphere.

A few days after the announcement of the partnership the value of AVAX surged significantly. For instance, during the 24-hour period that stretched between 9 and 10 May the AVAX price rose by 4.52% from $34.32 to $35.86, which indicated an improvement in its market sentiment. During the same period its market capitalization increased by 4.61% to reach $13,660,584,770. At the time of writing, AVAX which is trading at $37.04 gained by 13.4% within the last 30 days as the following graph indicates.  
![](https://gimg2.gateimg.com/image/article/17163474892.jpg)
AVAX Price Performance – CoinGecko

As observed in <a href="/price/the-graph-grt" target="_blank" class="blog_inner_link">The Graph</a>, despite the dips and bounces Avalanche AVAX has maintained a relatively high value for the past one month. Currently, AVAX has a positive market sentiment since it has a Greed and Fear rating of 74. Irrespective of the recent alliances, Avalanche is a fast growing blockchain which hosts several decentralized applications and other smart contracts.

Based on the current blockchain and cryptocurrency market trends the NFT sector is depressed. For example, NFT revenues for April dropped by 31.26% compared to March. During March the NFT market had a total valuation of over $1.15 billion. The <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>-based NFT had the highest valuation of $597.62 million despite taking a dip of 4.3% compared to March.

The trading volumes and revenues of <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> and <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a>-based NFTs dropped tremendously during April. NFT sales on Ethereum and Solana decreased by 56.8% and 39.4%, respectively. The <a href="/price/polygon-matic" target="_blank" class="blog_inner_link">Polygon</a> and Mythos Chains also recorded NFT sales decreases of between 4.19% and 7.46%. According to [Cryptoslam](https://www.cryptoslam.io/ "Cryptoslam"), the best NFT performers during April were Bitcoin’s Uncategorized Ordinals whose value increased over the March figures.

## Avalanche AVAX Price Prediction for 2024/2025/2030
The current price predictions for AVAX are based on the effects of the recent bitcoin halving and its historical price movement. CoinCodex predicts the AVAX price to reach $122.07 by 14 June. This is possible if the value of Avalanche AVAX increases by 229.34% within the remaining time frame.

On the other hand, [Changelly forecasts](https://changelly.com/blog/avalanche-price-prediction/ "Changelly forecasts") the value of AVAX to fluctuate between $99.22 and $100.34 by the end of 2024. To achieve this value range the AVAX price should increase by about 159.9%.

In the long term, AVAX may trade at around $175 by the end of 2025 and $152.91 by 2030 as the following table indicates. 
![](https://gimg2.gateimg.com/image/article/17163475633.jpg)
Avax Price Prediction for 2025 and 2030 - CoinCodex

As you note from the table, AVAX will gain incrementally between now and 2030. Currently, AVAX is edging closer to an overbought zone which indicates a possible price retracement by end of May. 
![](https://gimg2.gateimg.com/image/article/17163475844.jpg)
AVAX’s Current Market Condition - CoinCodex

On the contrary, the Changelly <a href="/price-prediction" target="_blank" class="blog_inner_link">price prediction</a> is less optimistic than the Codex one. This analytic platform forecasts the AVAX price to fluctuate between $68.16 and $81.91 by the end of 2025. However Changelly is more optimistic than CoinCodex in its long term AVAX price forecast as it indicates its value to range between $478.70 and $567.06 by 2030.

In the meantime, AVAX’s key support levels are at $ 33.87, $ 33.26 and $ 32.69. On the other hand, its closest key resistance levels are at $ 35.05, $ 35.62 and $ 36.24. Also, AVAX is positively correlated with <a href="/price/cardano-ada" target="_blank" class="blog_inner_link">Cardano</a> (ADA), <a href="/price/ethereum-classic-etc" target="_blank" class="blog_inner_link">Ethereum Classic</a> (ETC), <a href="/price/polkadot-dot" target="_blank" class="blog_inner_link">Polkadot</a> (DOT) and Polygon (MATIC). On the contrary, it is negatively correlated with  <a href="/price/tron-trx" target="_blank" class="blog_inner_link">TRON</a> (TRX), Zeebu (ZBU), <a href="/price/toncoin-ton" target="_blank" class="blog_inner_link">Toncoin</a> (TON), Worldcoin (WLD) and LEO (LEO).

## Conclusion 
Salvor’s partnership with Avalanche in its Rush Program will likely increase AVAX’s liquidity and NFT trading volumes. This may also stabilize the value of the cryptocurrency due to the rise in its utility and demand. In the meantime, some analysts predict the AVAX price to range between $152.91 and $567.06 by 2030.

<div class="blog-details-info">
<div>Author:* Mashell C.*, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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TL_ DR

Introduction

Avalanche_s Partnership with Salvor to Launch an NFT Lending Platform

Understanding the Avalanche Rush Program

AVAX_s Price Performance amidst NFT Market Downturns

Avalanche AVAX Price Prediction for 2024/2025/2030

Conclusion

Unbox Your Luck and Get a $6666 Prize

Avalanche and Salvor's $1 Million Venture into NFT Lending: A Game-Changer for AVAX?

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