INSIGHTS ON NFT AND DEFI SYSTEM
Two years ago was a very great year for nft and ever since then it has been a talking point among it's adopters and investors,web 3 is something no one was actually expecting so soon but here we are with it.nfts are non fungible tokens which gives certificate of ownership of a unique assets such as artworks and collectibles.many web3 and nft enthusiastic has view for the space of art although not everyone actually recognize the power of nft,it has actually help in providing real world opportunity and life changing opportunity for it's users.
Royal power is now associated with nft and defi,the original art of creator has the power to impose the amount of royalty fee it attaches to it when an nft is sold.this also allows the creator to build a passive income stream in nft market.the royalty payment is something that the creator enjoys for a very long period of time because it is an assets that remains on the Blockchain forever.this is where Blockchain and smart contracts comes to play an important role which help to keep every transaction of the royalty process which in turns helps to reduce the responsibility of the Creator.
Lending of nft has aim in solving liquidity problem which helps to generate market place for the owners of nft where crypto can be exchange for money.renting nfts is becoming common among it's adopters although not everyone actually has the capacity to acquire it as they are mostly expensive to purchase,so nft rental.are specifically for user who do not have but want to acquire through borrowing,nft rentals seems to be growing stronger among it's adopters every day.
Nft lending is also helping to grow the defi space as well , decentralized finance is just a digital way of banking your assets and nft is an asset which can be banked digitally through DEFI,lending of nfts take s place through DEFI just like the normal bank transaction but in this you are actually dealing with digital assets.obviously nft lending is really growing and in years to come we can expect to see the industry growing more.