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Striking a chord: DeFi’s domino effect on NFTs and Web 3.0 adoption

Published 07/06/2021, 12:07 PM
Updated 07/06/2021, 01:40 PM
Striking a chord: DeFi’s domino effect on NFTs and Web 3.0 adoption
ETH/USD
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Decentralized finance (DeFi) has shined a spotlight on a fairer internet since early 2020, and we’re on the brink of something world-changing. DeFi technology would not be possible without the web infrastructure that is widely used today, demonstrating the tremendous strides we have made with next-level innovation. The third era of the internet has already dawned, with a new economy, new careers and new enterprise opportunities.

Many experts believe DeFi’s rise has helped nonfungible tokens (NFTs) become more liquid, allowing users to view them as a more realistic investment opportunity. The rise of NFTs is further proof as to how this area of finance leads to a more promising and fulfilling development to total Web 3.0 adoption. NFTs are empowering the democratization of the new web — one of many benefits of blockchain technology — while DeFi aims to deliver the promise of financial democratization.

Maria Paula Fernandez is an adviser to the board of directors at Golem Network and serves as the founder and managing director of the Department of Decentralization (ETHBerlin). Maria Paula has been a part of the crypto community since early 2017, joining the Web3 Foundation and Polkadot in their very early days. In her spare time, Maria Paula leverages the Department of Decentralization (ETHBerlin) collective to explore different verticals of the community, from social experiments such as the Berlin culture and hacking festivals, to project managing the Ethereum Görli Testnet. One of her favorite topics to cover is the intersection of technology and art.

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