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The DeFi – NFT Symbiosis

Jan 6, 2021 · 5 min read

By Piers Kicks

In 2020, the worlds of decentralized finance and NFTs collided dramatically as the DeFi Summer drove gas fees on Ethereum to intolerable levels for many NFT activities. Whilst many participants in the NFT space initially saw this detriment as a curse, it can certainly be argued that residual liquidity from such a frothy market is what allowed the NFT sector to have its moment in the sun as money began to spill across sectors. As the DeFi boom subsided towards the end of summer, the NFT space began to see its highest volumes since late 2017 before ending the year with a bang fueled by historic crypto art sales..

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