Rebuilding with NFTs 🔧 – by William M. Peaster
Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles
Dear Bankless Nation,
The FTX blowup has been a stark reminder that people who can abuse a tremendous amount of power often will.
Amid the ugliness of this episode, we’re also reminded why decentralized finance is so important.
Through disintermediating and opening up finance, DeFi can help prevent the sorts of abuses of power that have shocked the cryptoeconomy this week.
That said, there’s still a ton of work to do to help rebuild sentiments and advance DeFi further. DeFi 1.0 has been a great start, but new experiments and innovations are needed to usher in a second DeFi golden era.
Toward that end, NFTs are a way forward. From underpinning decentralized credit scores to prediction markets, NFTs will play an increasingly pivotal role in reenvisioning and actualizing DeFi’s full potential.
Why’s that, you ask? Because NFTs unlock new possibilities around identity and sociality that DeFi simply didn’t have in its initial push. These new possibilities will make for new evolutions.
In other words, DeFi will rise out of the FTX fallout stronger than ever, and the DeFi x NFT crossroads is going to be a big part of that. In the meantime thanks for reading everyone, hold in there, and let’s get you up to speed on the biggest NFT headlines of the week for now.
🙏 Sponsor: Sorare – Collect, Play, Win. Own Your Game.✨
Blitmap provided a preliminary overview of its upcoming Logos “villains” collection, each of which will come in three versions like so:
Deepak Thapliyal, the CEO of Chain, is considering auctioning or fractionalizing his considerable NFT collection:
William M. Peaster is a professional writer and creator of Metaversal—a Bankless newsletter focused on the emergence of NFTs in the cryptoeconomy. He’s also recently been contributing content to Bankless, JPG, and beyond!
Subscribe to Bankless. $22 per mo. Includes archive access, Inner Circle & Badge.
Play the free-to-play NFT fantasy sports game now. Sorare is the official partner of the NBA, MLB and more than 300 soccer clubs.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.