Metaverse, NFT, And DeFi: Here's Why They Matter In The Blockchain World
NDTV
The three entities have their unique uses while also sharing and contributing to each other’s growth
Facebook's rebranding into Meta wasn't simply a change of name. We know how the rebranding redefined the company's role into a platform that is helping make crypto space more inclusive. How? Metaverse, along with DeFi (decentralised finance) and NFT (non-fungible tokens), have a real-world use case while being in the virtual world.
The inclusivity helps link the virtual environment with real-world problems and exchanges. With Metaverse, the trading of digital art and FinTech products became more transparent and decentralised, while safely remaining on the blockchain. Are you wondering how Metaverse, NFT, and DeFi have important use cases? Let's take a look at their use cases in the real world.
Metaverse
The Metaverse is supposed to be a fully immersive space of virtual reality. Virtual avatars will traverse through this digital environment in a more participatory way. It'll help users socialise beyond sharing images and documents. From pre-screening real estate property by examining them in virtual reality to buying homes through tokens, the Metaverse allows it all. Metaverse tokens, including MANA, GALA, and more, are rising in popularity due to their uses. These tokens are transactional entities that can be used to trade in virtual marketplaces in the Metaverse environment.
