Article: Use Cases for Combining NFT with DeFi

Crypto, Decentralized Internet, Digital Content

Use Cases for Combining NFT with DeFi

In turn, NFTs become an excellent add-on for DeFi tools that expands the variety of use cases.

One of the earliest ideas for combining NFTs and DeFi was to use new unique tokens for DeFi lending. In this case, NFTs can act as collateral. For example, nftfi allows a borrower to apply for a loan using the NFT as collateral.

If the lender considers the NFT to be valuable, the loan is issued. NFTs are often valued based on their value in secondary markets. The fulfillment of the condition is ensured, of course, by smart contracts.

This case demonstrates the potential of the DeFi and NFT combination outside of gaming and other entertainment industries. NFT is also an opportunity to incorporate unique digital and real-world assets into the digital economy and get profit.

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Article: (Yonhap Feature) Bubble? No, young Korean artists see crypto art as fresh opportunity

Crypto, Digital Content

(Yonhap Feature) Bubble? No, young Korean artists see crypto art as fresh opportunity

The NFT market will “lower entry barriers to the art scene and encourage more creators to join the market, leading to greater diversity,” the official said.

Globally well-known artist Yoon Da-in, who uses her face and body as a canvas to create optical illusion art, said she was carefully — and positively — reviewing the market.

She said NFTs can offer “important opportunities for me and collectors as my paintings, which only exist for a fleeting moment in time, can now achieve a unique digital status and live on forever in collections worldwide.”

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