How NFTs, DeFi and Web 3.0 are intertwined

Explosive growth in asset tokenization and NFTs is fueling Web 3.0 growth, and testing DeFi resolve.While blockchain itself provides the technology constructs to facilitate exchange, ownership and trust in the network, it is in the digitization of value elements where asset tokenization is essential.

As we dare to envision a shift toward a world with decentralized control, governance based on distributed technology that challenges every business model, and governance structures. Not only the shift itself, but the motivation, incentive and monetization elements that fuel and power the economic infrastructure to move things that have value — thereby keeping up with our changing perception and subsequent realization of that value.

Commercialization of Web 3.0 protocols, which manifest as fungible utility tokens, further blurs the lines with diverse financial innovation products introduced by DeFi , products that are also tokenized. So, while decentralization is the underlying theme — and the wallet and the token are fundamental constructs — these blurring lines are quite profound.

Reference :

https://cointelegraph.com/news/how-nfts-defi-and-web-3-0-are-intertwined

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Author: Priyanka

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