The most common application of crypto is decentralized finance, or DeFi for short. Cryptocurrencies are programmable and transparent, enabling financial applications that were previously impossible.
Here are some of the most popular DeFi applications:
Exchange and earn yield on tokens
Borrow and lend cryptocurrencies
- Curve Finance
Exchange and earn yield on stablecoins
NFTs - digital collectibles and art
NFTs are a new kind of digital collectible. NFTs are tokens that prove someone owns a digital asset, like an image or domain name, without needing to rely on a central authority to certify them.
NFTs became very popular in 2021 due to projects like The Bored Ape Yacht Club, whose NFTs of cartoon apes give members access to events and special perks.
The most popular NFT marketplace is OpenSea. Some of the most famous NFT projects and artists include:
Gaming & Virtual Worlds
DAOs are decentralized organizations. The most popular use of DAOs is to manage decentralized applications, but they can be used to organize any kind of group online. Most DAOs have a Discord channel that you can join - pop in and join to see what's going on!