How Can Refi Impact Web3 and NFT?

Mashiat Mutmainnah – a partner, NFTs Lead and Strategy & Innovation at Celo has a discussion about the role of Refi in providing accessible technology in Web3 and NFTs.

Reimagined Finance (ReFi) is a Decentralized service platform that has the mission to make the reward accessible for all holders.  

The main role of Refi is to bring awareness of the “extractive and exploitative” world of money. Users understand their choice of one T-shirt is based on child-labor hours of working. Being said, with equitable accessibility and distribution, this kind of extractive system will no longer exist.

In the driven trend of ReFi, users will define their wealth definition and the relation to their current financial status for their long-term well-being manner. All over the world, there are many people who still lack basic financial services for daily needs secure.

Mutmainnah explained that users can participate in the ecosystem and contribute to building prosperity and a better place. “ReFi is helping folks change the way they relate to money.” She emphasized.

Mutmainnah gave an instance of the “Loyalty NFT rewards program” to talk about the use cases of NFT in social and public goods. From the actual case of Starbucks, more and more organizations and companies apply this program to yield positive benefits. When purchasing an NFT, the holder would have a free coffee for many days. In this program, NFTs can gain more economic feasibility than buying tangible items.

Compared to the explosion of NFTs in 2021, more peer-to-business initiatives are expanding. However, all changes need transitions. ReFi provides users more rights to take full “ownership of their assets.“

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Ken

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