Al Goanna's Bank of Goanna issues 145 NFT-backed loans totaling 34.92k ALGO

Not long ago, Al Goanna was a project that promised one tree for every NFT it sold. Today, the Al Goanna¹ project operates an NFT-backed bank, a browser-based battle game, and a community treasury that is working toward decentralized governance.

The Bank of Goanna

On the Bank of Goanna², the project's NFT lending platform, the activity feed shows 145 loans totaling 34.92k ALGO as of August 27, 2026, with the most recent loan issued that same day. The platform lets holders of NFTs from eight supported collections borrow ALGO against their assets. In exchange, borrowers pay an interest rate of 60.83% APR — an effective 5% for a 45-day loan term. All liquidity comes from the Goanna DAO, and all interest goes to the DAO treasury.

NFT-backed loans work by holding the borrowed-against NFT in escrow — a smart contract that keeps the asset locked until the loan is repaid or forfeited. According to the platform's FAQ, 'Smart contracts are audited and funds are held in escrow until loan completion.' The platform runs on Algorand mainnet, confirmed by the indexer it connects to (mainnet-idx.algonode.cloud).

The table below lists the supported collections, the ALGO amount a holder can borrow against an NFT from that collection, and the $GOAN reward, the project's Algorand Standard Asset (ASA) token, that a borrower receives for successfully repaying a loan.

Supported Collections

Repaying early is allowed without penalty, but interest is calculated on the full 45-day term. If a borrower defaults, they have a three-day grace period, after which the loan is transferred to a Pawn Shop and auctioned.

From Collectibles to a Tree-Planting Movement

Al Goanna's original collection of 489³ 1/1 NFTs was released between September and December 2021. The creators pledged to plant one tree per NFT, and by December 2021, they had planted over 40,000⁴ trees. That commitment grew into the Gilbert Goanna Tree Fund, which the project describes as Algorand's first dedicated environmental impact fund and says has contributed to planting about 200,000⁵ trees. The project's achievements page documents a long run of firsts: it was the first Algo NFT collection to break 1M⁶ Algo volume, holds a record sale of 111,111A, was the first Algorand NFT collection purchased by VC firms as a strategic long-term investment, and partnered with Algorand to produce 888⁷ Decipher NFT invites.

The Goanna DAO

The Goanna DAO is the project's governance body, and the home page describes it as including some key early Algorand adopters, with a treasury holding over 222,000A. A governance charter published on Google Docs lays out a transition from a fully centralized project — currently owned by an Australian business entity controlled by founder Ben 'Benji' — to a community-owned decentralized autonomous organization (DAO), where DAO stands for a system of governance shared through token-based voting. The charter proposes establishing the Goanna DAO as a Cayman Islands foundation holding the treasury entirely on-chain. Membership is open to anyone holding a Goanna NFT, with each NFT counting as one vote, but only holders of the original 489⁸ V1 NFTs can make proposals or take on official roles.

MvZ Battles

The project's second major collection, Mutants V Zombies (MvZ), consists of 5,555⁹ NFTs split between two factions. It was launched through a system of eggs, mutant fruit, and zombie bites airdropped to Al Goanna holders. Now, those NFTs can be put to use in a game called Fight for Goanna City, live at battle.algoanna.com¹⁰. Players send MvZ NFTs into battle at one of three arenas, paying 1,000 GOANNA per NFT. Battles last seven days, and the outcome is determined by chance at a location-specific risk level.

Battle Arenas

The Season 1 recap shows 2.69M GOANNA in prizes awarded to top players. The leaderboard's top player, arbitrager.algo, earned 426,000 GOANNA from 20 battles.

Dynamic Art and the Market Dashboard

The Art Goanna series explores creative collaborations. One of the most technically ambitious is the collaboration with MakerX, which produced dynamic NFTs that visually respond to Algorand's market conditions. On the GoannaX Dashboard¹¹, each dynamic NFT's background, vehicle, outfit, and expression change based on the 30¹²-day, 7-day, 24-hour, and 1¹³-hour ALGO price changes, respectively. With 2,401¹⁴ possible combinations, the series functions as a living representation of market sentiment. The dashboard also tracks the latest ALGO price, market cap, and the Crypto Fear & Greed Index. Holders of these dynamic NFTs get Lizard Lounge Discord access, the ability to vote in DAO activities, and a share of future dashboard revenue.

Community and Achievements

The project's Discord server currently has 2,995 members. Its achievements page lists a laundry list of milestones: donations to AB2 Gallery, NFT Explorer, CHADD+ADHD Fame, Victoria's Promise, and the Everglades Foundation; an official partnership with Algorand for Decipher NFT invites; an exhibit at the Seattle NFT Museum; and hosting the first mission on Polynize for the Goanna and Forest Folk communities. Forest Folk is a separate 1,111-NFT collection created from the Tree Fund, with its proceeds supporting tree planting. 'While our goals have got bigger our philosophy remains simple,' the project notes. 'Make cool shit, reward our holders and have a positive impact along the way.'

For a reader who wants to participate, the minimum step on the lending platform is owning an NFT from one of the eight supported collections, while the battle game requires an MvZ NFT and 1,000 GOANNA to enter an arena. Both are live on Algorand mainnet.