Why I think Defi and NFTs will be the most important elements in the cryptospace

[indian_blog]

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]

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?

[padrick]

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[DemetriusV]

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.

Agree with you completely! In my opinion nft sector is only starting to gain in popularity making in fact its first steps but it already can boast to have such masterpieces like Hate Race!

[MrSpasybo]

As for DeFi: this will be an important part of the crypto market because crypto is DeFi by its very nature. We are just not sure if DeFi-focused tokens (DEX, lending…) will continue to increase sharply in the near future.
NFT is a new area where we can use blockchain technology. We still have too many problems to solve before applying it in our lives. Right now, everything just stops at GameFi.