What is a credit NFT?

2 min readDec 28, 2021


Until the end of 2021, CreDA is running a competition where users can link their wallets, mint a cNFT and be automatically entered for the chance to win 50 $CREDA tokens.

Sounds great, but what’s a cNFT you ask?

Your Crypto Credit Score is a number generated by your on-chain activity based on the wallet or wallets you connect to the CreDA Oracle. But it’s true power comes from the act of minting that number, along with your decentralized ID (DID) into a Credit NFT (cNFT).

Each cNFT safely and securely contains your credit rating and how it was derived, such as a person’s total assets, diversity and volatility of those assets, transaction history, such as loans and repayment amongst many other unique data points.

The function of the cNFT offers three key features.

1. Scalable
cNFTs can communicate with various operating interfaces, making them interoperable with a wide range of DeFi protocols.

2. Upgradable
The cNFT will be upgradeable in order to incentivize faithful CreDA ecosystem users.

Users can invest CREDA tokens to enhance their cNFT levels so they can have access to even more exclusive offers.

3. Credit Network
Based on the flow of funds between wallet addresses, the credit oracle helps the cNFT establish a credit network. The connections between the various credit NFTs can be analyzed using the credit network.

What’s more is that cNFT can work in new areas such as in GameFi and the Metaverse in addition to other DeFi platforms.

If you haven’t done so already, go to www.creda.app and get your score, and check out our Discord for competition details.

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CreDA is the world’s first decentralized credit rating service based on users’ on-chain data