Post
Topic
Board Altcoin Discussion
Re: Why I think Defi and NFTs will be the most important elements in the cryptospace
by
avikz
on 20/04/2022, 03:59:45 UTC
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.

I agree from Defi perspective! Defi is definitely great and with the increase surveillance from the government agains crypto users, Defi is going to be benefited because people will want to move to a non-centralized ecosystem made for crypto.

But I don't have the same thought for NFTs. This is a marketing buzzword and pure hype without any utility. People are making money in NFT that's why everyday more and more people are flocking to NFT market. But it will dry out sooner than later. When the hype is gone, people will sit on monkey pictures that they have purchsed by soensing millions of dollars.