In this episode, “Beyond Bitcoin: Why DeFi & NFTs are potential game changers for financial markets and maybe every other industry”, Nick discussed DeFi and NFTs with Egor Sidelska, Director of crypto hedge fund, Magnet Capital. Decentralised finance (or DeFi) refers to decentralised applications working via smart contracts on a blockchain. The apps provide crypto-based financial services such as lending, insurance and digital asset trading. Currently there are more than $50 Billion of DeFi smart contracts in the market and the number is growing every day – almost invisible to the traditional finance world. DeFi is exciting as it democratises financial products as well as creating fundamental value (and liquidity) for crypto assets. NFTs or Non-fungible tokens have dramatically changed the art world in recent times with more than $60 Million being paid for a piece of digital art. But NFTs do not stop at art, they can change the way we think about ownership of everything in the digital world. Nick and Egor explain DeFi and NFTs in an easy to understand way and then discuss their most successful use cases. The scale of DeFi, its uses and its speed of growth will be a massive surprise to anyone not already aware. Similarly with NFTs. This session is relevant for everyone, no matter what industry, to understand how DeFi & NFTs can potentially change their business and their world.

Links
Magnet Capital website