Someone just borrowed $1,000,000 — collateralized by a single NFT.

Someone just borrowed $1,000,000 — collateralized by a single NFT.
The asset? XCOPY’s iconic “Last Selfie” — a glitched-out masterpiece minted in 2019 for roughly $20 per edition. The borrower picked up this piece in 2022 for $240K. Fast forward to October 2025 — another edition sold for a record-shattering $3.27 million.
Instead of selling and taking the tax hit, the owner used it as collateral for a $1M USDC loan on GONDI at 23% APR. Six months, $113K in interest to the lender. The borrower keeps full ownership, keeps the upside, and walks away with seven figures in liquidity.
This is DeFi lending hitting a new level. Blue-chip NFTs like XCOPY’s work are no longer just flex pieces — they’re functioning as legitimate financial instruments. Borrow against them. Avoid taxable events. Stay long on the asset.
XCOPY himself is crypto art royalty — pseudonymous, London-based, minting since 2018. His signature glitch-art style helped prove that blockchain-native art belongs alongside traditional blue chips. Works like “Right-Click and Save As Guy” and “Grifters” have moved tens of millions.
From a $20 mint to million-dollar collateral. The NFT market has its ups and downs, but the top tier is being treated like generational wealth — and the lending infrastructure is finally catching up.
Would you borrow against a grail or just sell it?
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