A promising combination between NFT and DeFi

NFT is a type token the a great code password for the first single, can not change for each other, immutable and extremely rare. In particular NFT’s owners demand for uniqueness and cannot be faked as works of art, collectibles or products in games.

CryptoKitties – a popular digital cat farming game Dapp launched in 2017 and remains one of the biggest NFT projects by sales volume.

CryptoKitties is an example that illustrates the growth potential of the NFT Dapp, especially in the DeFi realm which is the trend of the moment.

How did DeFi development create opportunities for the NFT?

DeFi has become the most popular topic in 2020. Many believe that a wide range of DeFi will be widely used in the next 3 to 10 years.

Following in the footsteps of DeFi, projects in the NFT sector have also begun issuing regulatory tokens to gain greater appeal, just like what DeFi has done.

According to statistics in the first week of September 2020, NFT’s sales business reached nearly 1 million dollars (according to NonFungible.com data source). That figure then rose to nearly $ 2 million NFT dollars in the first week of October 2020.

The role of NFT in the DeFi field

NFT expansion helps collateral market in DeFi. Lending platforms like DeFi always require collateral, which is usually cryptocurrencies. Time here with the life of NFT, people can use other types of assets as collateral instead of cryptocurrency.

Limit: an art or a real estate can be encoded in the NFT format and used as collateral when participating in DeFi.

Drive, the value of using the NFT may be far more than a world-accepted asset. It has the ability to represent separate financial journals, such as insurance, bonds or options.

For example in school insurance, each coin will be converted to an NFT. NFT this after that can be going to the transaction on the level field.

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