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sumaiyakhatun26
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Post by sumaiyakhatun26 »

Although the applicant claimed that he purchased the NFT with the intention of keeping it for himself, he also often used it as collateral to borrow cryptocurrency on the NFT lending platform, NFTfi.

Previous court documents state that the applicant had successfully used the NFT guarantee for multiple loans and repaid them. He made it clear in the loan agreement that he was not willing to relinquish ownership of the NFT and would repay the loan in full to reclaim it.

After failing to pay "Chefpier" on time, the plaintiff asked for an extension, to which the lender taiwan rcs data offered to refinance the loan and the plaintiff agreed.

Judge Lee granted the plaintiff’s request to submit “chefpierre” court documents via Twitter, Discord, and the “chefpierre” crypto wallet address.

This ruling could set a precedent for NFTs to be recognized as property in court and pave the way for Singapore to reclaim its status as a blockchain hub .
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