Buy Now Pay Later (BNPL) is a concept where buyers can purchase an NFT by paying in installments over a period of time. Users make regular payments plus interest fees. After all the payments are completed, the NFT will be transferred to the user. This is a modified form of peer-to-peer lending, with the protocol taking on the role of the lender and associated price risks with the NFT. Cyan and ApeNow are two startups with live BNPL products.