At first, Bitcoin came to rule the crypto world, which is then spread as cryptocurrencies. Now, in the year 2020, the cryptocurrency world is driven by decentralized finance which made many traditional financial sectors adopt to DeFi protocols for their processing. 2020 has seen the rise of DeFi from the start of the year, to date. And now the space of DeFi is being replaced by the term called “NFT - Non-Fungible Token”. This NFT is being popular among the people and experts hope that the upcoming year 2021, will be the rise of NFT.
Crypto World after DeFi - What is next after DeFi?
As we are all at the end of 2020 and have deep driven by the concept of Decentralized Finance, there rolls a query in each of our minds that What would be the next big thing in the cryptocurrency globe that would replace the spread of DeFi and lift the crypto industry to the next level?

From the recent survey, experts conclude that the potential to compete with DeFi and to bring a boom in the cryptocurrency world lies with “NFT - Non Fungible Tokens”.

If you are the one who continuously updates yourself with the flow of cryptocurrency waves, you must be knowing the effect of NFTs in recent days and will have a belief that these NFTs along with DeFi can create a huge impact in the upcoming years.

NFT - Next Booming Factor in 2021
The next booming factor in this digital economy would be the utilization of Non Fungible Tokens by the greater mass in the year 2021. Already the use of NFTs has increased in a constant manner and surely this will be the booming factor that pushes the crypto lovers as a whole.

Without any pause, let us discuss this Hottest Topic “ NFT”.

What is NFT?
NFT - Tokenized Version of Digital/Real-world Assets.

A Non-Fungible Token or NFT is a special kind of cryptographic token that represents any unique asset. These NFTs operate as verifiable proofs of authenticity and ownership inside the blockchain network. The NFTs are not interchangeable which introduces scarcity in the digital world of assets.

NFTs are the building blocks of a blockchain-powered or distributed ledger powered world. These NFTs find application in several digital items and processes such as crypto gaming.The notable and first use-case of NFTs in the crypto-collectible trading card gaming.

Major Use-cases of NFTs
Let us deeply look at the top use-cases of non fungible tokens in the digital economy.

Media & Entertainment
Real Estate
Challenges Faced in the adoption of NFTs
Here are some important barriers which we face while developing and adopting the NFTs in the real world.

  1. The regulations, which bridges the gap between a centralized & decentralized world.
  2. The problem of infrastructure
  3. Lesser user experience
  4. Scalability
  5. Higher Transaction Fees and more.
    Top 5 NFT MarketPlace
    GRAP Finance
    Decentraland and more

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What is Next After DeFi ? | NFT Tokens
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