A Brief about MetaFi
Understanding Finance For Metaverse
The rush hour on the metaverse lane has begun!!
…And EasyFi is standing right at the spot where the DeFi expressway meets the Metaverse streets!!
In our roadmap 2022 vision document, we had stated our intention to build a dedicated product that will cater to the needs of those who seek Metaverse assets — such as virtual real estate, virtual plots, land in the metaverse, gaming assets, Avatars, NFTs and others.
This vision will now fructify with MetaFi, our Finance gateway to the Metaverse.
MetaFi is essentially everything finance involving assets evolving in the metaverse.
The Metaverse is all about holding virtual assets which might simply be art in the form of an NFT or even real estate around the metaverse.
In a broader perspective all the finance functions including lending and borrowing solutions that are based on using virtual assets as collateral could come under this umbrella term. MetaFi is based on DeFi principles that help govern all the interactions with users right from the smart contracts to the cryptocurrencies being used to facilitate the process.
The combination of ever-growing DeFi protocols coupled with the need to revolutionize the traditional financial system will give rise to solutions for users to adapt into their daily lives, hence transcending finance as a whole.
Acceleration of MetaFi
We believe that MetaFi will eventually enable a larger economy where millions of creators and consumers will enter the ecosystem. The combination of DeFi with the metaverse will be accelerated due to the following:
The crypto community has often been limited to only developers due to the intermittent technicalities. However, the dawn of MetaFi pursues the idea of allowing regular people to interact with the ecosystem in a broader perspective. A larger section of the community will now be able to share the success of the creator economy.
Interconnecting the new generation to DeFi
The future of crypto is heavily dependent on the interaction of the new generation with the ecosystem and an exponential increase in the adoption curve. Allowing the younger generation to become more literate on this subject while also involving subjects like memes and games to draw their attention will aid MetaFi
What is EasyFi’s MetaFi plan?
EasyFi prioritizes developing new and innovative financial solutions for users to benefit from. The rise of the metaverse brings along an opportunity to transcend the traditional lending and borrowing solutions.
EasyFi aims to develop lending & borrowing solutions based on having virtual assets like NFT’s and real-estate as collateral before sanctioning the required liquidity in crypto.
Why the Metaverse?
The metaverse space has seen a tremendous and exponential growth in the last few years which has allowed people to invest and buy real-estate and NFT’s in the metaverse. The buzz about the metaverse has grown exponentially and so has the investment in this sector.
We published a market overview article a few days back that laid out a huge potential of the virtual real-estate market.
It is our understanding, that while a lot of progress has been made in the DeFi space, the Metaverse space will open up a new range of collaterals that will widen the scope of DeFi itself manifold, especially in the lending & borrowing of Metaverse assets.
What’s in it for the community
As for the community, EasyFi’s MetaFi will ensure that users who are interested in buying real-estate and other valuable assets in the metaverse can take a loan from the EasyFi MetaFi platform with ease and possess an asset that is valuable to them and is kept secure in a smart contract on EasyFi, till the time they repay the loan.
EasyFi Network is a universal layer-2 multi-chain money market protocol for digital assets with focus on liquidity sourcing & capital efficiency for structured lending in a non-custodial manner. The Protocol is currently live on Polygon, Binance Smart Chain and Ethereum.
To learn more about $EZ and EasyFi, please go through our whitepaper and other articles on this publication.