Newsletter #89
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This week’s featured collection: dklounge
Dklounge is the web3 pen name of Dennie Kim, an Assistant Professor of Business Administration at the University of Virginia. (Don’t worry, we’re not doxxing Dklounge, they list their real name publicly.) Dklounge’s collection is very cool: it ranges from Top Shots to Invisible Friends and more. Check it out at lazy.com/dklounge
Financial engineering is coming for NFTs in 2023. It is an exciting development… but is it good for the industry?
Just two weeks into the new year and it is clear that one of the biggest developments for NFTs in 2023 will be the merging of DeFi with NFTs. This trend is being called NFT Finance.
Previously the main thing that could be done with a collectible art NFT was to buy and hold it.
Now, traders will be able to take out complicated perpetual futures and options to bet on the rise and fall of NFTs without ever owning one directly. For a taste of what is to come, take a look at nftperp.xyz and hook.xyz.
On the one hand, these developments are exciting: they are proof that the NFT ecosystem continues to grow, attracting new participants and fostering new ways of interacting with NFTs.
On the other hand, the financialization of NFTs could open the door to negative outcomes: pushing NFTs away from art and culture toward financial engineering and gambling.
Either way, we will be watching these developments closely. It is clear that some serious building is happening during this bear market!
What do you think about NFT Finance? Fill out this poll and let us know!
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