New opportunity or bubble? See how NFT, which is frequently out of the circle, plays with the new field of DeFi data
In 2017, Dieter Shirley and his team developed ERC-721: a new Ethereum token standard that can verify the scarcity of digital items, which became popular, and then CryptoKitties became popular, directly paralyzing the Ethereum network degree. Today, digital artwork has once again brought NFT back to the public eye: a GIF picture called "Rainbow Cat" sold for $590,000, and a close-up of Shatner's head in the 2000s was resold for $6,800. Just this week, artists Sarah Zucker, Matt DesLauriers and others have announced their NFT collections.
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DeFi+NFT
The deep reason for the resurgence of NFT is that DeFi is weakly connected to the real world under the increasingly large volume. Bold people began to imagine that if NFT is used as collateral for DeFi lending agreements, does this mean that it can Use NFTs representing artwork, digital land, or even tokenized real estate as collateral, and then lend out other assets.
As NFT transfers the ownership of physical objects to the blockchain, digital assets at the level of 100 million yuan may be transferred to the blockchain, thereby showing huge transaction value in the secondary market. Take NFT's most detailed classification "tickets" as an example. At present, there are about one billion people in the world using digital tickets. If 3% to 5% of tickets are converted into NFT tickets, this will greatly promote the development of this field and even the region. Mass adoption of blockchain.
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How to solve the difficulty of NFT pricing?
This sounds really interesting, however, there is a problem. In a wide range of DeFi fields, standard lending platforms like Compound, Aave, and Vigor can easily measure the value of collateral by integrating price oracles, and the data comes from various liquidity sources such as centralized exchanges and decentralized exchanges channels, but for the NFT market, tokens that cannot be split usually lack liquidity, and the price discovery process is difficult to overcome.
Some institutions have proposed that borrowers can provide NFTs as collateral, and lenders will decide which NFTs can be mortgaged before lending. Although this idea is not mature, it cannot suppress its feasibility. The development of NFTs with specific values has just started, but Its unique properties can still be used in more complex financial products such as data, insurance, bonds or options. Boson Protocol is a case of applying NFT in the data field. Every piece of data is represented by NFT, and the native token BOSON is used to reward users who create, buy and sell NFT on the platform.
As a blockchain protocol for physical assets, Boson Protocol can fully guarantee that NFT can be used as a transaction commitment, or a value interaction medium. It can exchange encrypted assets for real-world assets without the need for the transfer of ownership in the physical object itself or on the chain. product and service. Data in the Web3.0 world is the most important link in business. Boson Protocol uses its NFT mechanism for novel exchange management and tokenization of future transactions, making it the basis for digital commerce and its data on the emerging decentralized network Pipeline, empowering builders and partners to reshape commercial exchange.
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"Why are NFTs becoming more and more popular?"
On April 28th, JBanon, the co-founder of Boson Protocol, was invited to the Nasdaq Tarde Talks column to give a keynote speech on "dCommerce ecosystem and why NFT is becoming more and more popular". Centralized finance releases more potential, and Boson's excellent data privacy protection technology will take the lead in completing decentralized transactions in e-commerce systems.
As early as February this year, Boson Protocol announced that the NFT trading platform NiftyKey has been successfully created on its protocol. Users can use NiftyKey to create NFT tokens and interact and reward assets through the network. Various assets running on ERC20 will also be linked Make more wallets compatible to expand the ecosystem, and ultimately achieve optimal commodity transactions and interoperability.
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NFT connects DeFi to reality
Dismantling DeFi can be divided into three main parts: stable currency, DEX, and oracle machine. The DeFi ecology we are talking about is a lending market based on the linkage of these core sectors. It is not difficult to find that among them, only the oracle is the only part of DeFi connected to the outside world, and the oracle itself is only a tool for providing data. Its no need for access may give many investors a reason to enter the DeFi market, but it is by no means It will directly bring traditional assets into the digital currency market.
NFT can obtain the elements that give value to the project in the physical world and transfer these elements to the digital field, and can be easily transferred between parties. At the same time, the introduction of liquidity mining also solves the problem of poor market liquidity in the NFT field , Undoubtedly adding a wider new continent to DeFi. In addition, the current DeFi form has shifted from a single revenue farming to the game field, and more people hope to earn extra bonuses through interesting games, so when the future DeFi currency strategy is biased towards gamification, then who can provide the best Transaction Proof of Ownership? Needless to say, of course it is NFT.
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Everything can be DEX
Currently people live in a world where the things we have can be digital, physical or both. We may own a unique item, such as a piece of art or an NFT. People's possessions may be unlimited, such as an in-game item or a branded pair of sneakers, a baseball game, or a limited-seat lunch with a celebrity or influencer.
Subsequently, this ideal was gradually realized by BOSON, the key idea behind the universal exchange mechanism, allowing the exchange mechanism to interact with abstract interfaces of products, deposits and payments, and delivery/cashout methods.
Create a library of interface implementations for each suitable class of product, deposit, payment and delivery/cashout methods.
Complex exchanges (e.g. NFT twins) are supported by fitting those mechanisms into the delivery/cash-out method interface.
Summarize
Summarize
NFT shows us a unique and wonderful digital world. Although the application scenarios are limited to games and collectibles, it has a deeper and more diverse volume and has unlimited potential. At present, the transaction volume of NFT exceeds 100 million US dollars, and this month has a transaction volume of 6 million US dollars. As one of the fastest-growing niche markets for cryptocurrencies, it will be able to link the real world economy in the future, without using physical assets, just by converting ownership The appreciation of assets can be realized, which is a very large space for imagination and practice.
