"There's Going to Be a DeFi Universe Geared Towards Non-Fungible Assets:" NFTfi's Stephen Young

In this week’s episode I speak with Stephen Young, the founder and CEO of NFTfi, a platform for enabling NFT-backed loans. For some people, decentralized finance and nonfungible tokens sit on two separate worlds; DeFi on one end with its different lending, boring, and trading applications, and NFTs, with their digital art, music royalties and collectibles. Entrepreneurs like Stephen sit at the intersection, with a platform that uses NFTs to provide a financial product. He says volume on the platform is booming, as many new NFT owners find they can now get liquidity from digital property they don’t want to sell, while lenders can get more attractive rates for their crypto. Stephen believes this is just the beginning, and that eventually, real-world assets will also become digital property incorporated in the growing world of NFT and DeFi.

Thanking our sponsors:

Balancer, one of the leading DeFi automated market makers (AMM) for multiple tokens. Dive into their pools here!

Enzyme provides an easy way to build, scale and monetize DeFi investment strategies

Kraken, consistently rated the best and most secure cryptocurrency exchange, which can get you from fiat to DeFi

Aave, an open source and non-custodial liquidity protocol where users can earn interest on deposits and borrow assets

The DeFi Pulse Index, by Index Coop - DPI is the easiest way to capture the upside of DeFi with the benefit of diversification.  Buy DPI today on your favorite DEX.