bhalan's blog

As technology advances, the financial industry is continuously evolving. Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs) are among the most significant and exciting changes happening in the industry today. Now, let us discuss how NFTs and DeFi can work together to create unique opportunities in the financial sector.

Welcome to the latest edition of NFTs Driving Change, where we highlight the impact of NFTs and Web3 tools on real-world issues. Do you know? Sovereign Nature Initiative (SNI) is an Amsterdam-based nonprofit organization that works at the intersection of ecology, economy, and Web3 technologies. Now, let us discuss SNIs mission and their innovative project, DEEP, connecting dynamic wildlife data with digital creatives and gaming companies, generating virtual assets for conservation organizations.

NFTs are transforming the way people perceive and value digital assets. In 2021, the NFT trading volume skyrocketed by 400x and reached $13 billion. By 2026, it is expected to reach the height of $100 billion, with an annual growth rate of approximately 40%. The rise of NFTs has given birth to a new form of trading platforms and this blog directs you to the development of NFT auction platforms and how they function.

Decentralized Finance is one of the by-products of Distributed Ledger Technology (DLT) that has quickly gained endorsement in this tech world. Over time, DeFi lending and DeFi borrowing have started to get the likes of the general public. The idea of borrowing and loaning money to others using computer code without relying on banks or other so-called “trusted mediators” has become so common.

Before that, we have to know the reason behind this obsession with DeFi applications.