DeFi NFT and GameFi Made Easy by Dr.Liew Voon Kiong Book PDF Summary
In the past two years, DeFi has been the most popular buzzword among the crypto community. Sceptics might argue that DeFi is merely hype, but Decentralized Finance has grown exponentially since 2020 where many DeFi platforms were deployed. The total value of digital assets locked in DeFi platforms has reached an astounding $92 billion at the time of writing, thus creating huge DeFi economics. In the year 2021, however, DeFi growth has somehow slowed and seems to have been overtaken by another emerging trend in the crypto space, the NFT industry. The NFT craze began when Jack Dorsey, Twitter’s founder and CEO, auctioned his first-ever tweet as a nonfungible token (NFT) and was sold for 1630.5825601 ETH or $2.9 million! Since then, many NFTs were successfully sold for astronomical dollar values, like the artwork named “Everydays: the First 5000 Days.” by the artist Beeper which was sold for $69 million! Indeed, the NFT movement has gained a huge following since 2020 due to high-profile art auctions and celebrity interest in NFTs. As a result, the NFT industry has seen a huge jump in trading volume with sales volume exceeding US$2.5 billion in 2021 at the time of writing. However, DeFi and NFT are not mutually exclusive but complementary. Gamification of decentralized finance and using NFT as a collateral in DeFi lending and borrowing are two emerging trends that are quickly gaining traction. In fact, several projects have merged DeFi, NFT and gaming to create a new model known as GameFi, the new revolution to Free to Play, Play to Earn gaming. The GameFi model not only allows players to earn tokens while playing but also further monetize their assets via liquidity mining and yield farming. The incredible growth of the DeFi and NFT industries have presented attractive opportunities to investors who want to diversify their portfolios. However, the complexity of the DeFi and NFT ecosystems present an intimidating challenge not only to newcomers but also seasoned crypto traders. Therefore, I have authored this handbook with the goal to help you better understand DeFi and NFT and learn how to reap profits from them. This book provides a brief description of several major DeFi platforms comprising decentralized exchanges, loans, and savings markets. In addition, I explain the basic concepts of NFT and introduce various types of NFTs including collectibles, sports, metaverse, gaming, gameFi, Play to Earn games, art and more. Additionally, readers will learn how to create, buy, and sell NFTs using platforms like OpenSea, Rarible and Mintable.