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Author Topic: Why I think Defi and NFTs will be the most important elements in the cryptospace  (Read 134 times)

indianCrypto

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Defi and NFTs will not only be important elements in the cryptospace, I reckon Defi will be the main element that will serve as basic infrastructure for all digital items created in the cryptospace. This will include NFTs as mentioned and will also serve cryptocoins like Bitcoin, Ethereum, other altcoins and stablecoins. Defi can also serve casinos, DAOs and many other usecases.

Before I had a wider understanding about Defi, I thought it was only another new scam in the cryptospace that will be forgotten. This is because I thought Defi would try to serve real world assets of value that will be tokenized. I was clearly very wrong in this type of thinking. It was when I was beginning to witness the longterm cultural value of NFTs when I realized of Defi's importance as an infrastructure for anything with value in the cryptospace.

In any case, there are Defi projects in the cryptospace already serving NFTs to provide liquidity for them. I speculate they will be the next 10x - 100x projects.

CryptoboyRamesh

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  • The idea of decentralized finance may be good and very promising, but the prevailing question until today is that which particular decentralized platform in the whole wide defi space is truly decentralized? It is easy to claim decentralization, but upon investigated very closely, will there be any single defi project that is really decentralized?

    The idea of decentralization is that there won't be any single point of failure. Looking closely at defi projects, could we give at least a single defi project that doesn't have a single point of failure?

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    INVESTING, TRADING,
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    GAMEFI  ◼  NFT  ◼  DEFI  ◼  CURRENCY TRADING
    CURRENCY TRADING  ◼  DEFI  ◼  NFT  ◼  GAMEFI
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    MrSpasybo

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    I believe DeFi is an important part of the crypto market, because it shows the nature and potential of crypto.
    As for NFTs: I don't understand their potential in the real economy yet, hopefully projects will get more products, not just GameFi items.
    Polkadot does what Ethereum cannot

     

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