The growing opportunities in decentralized finance (DeFi) and non-fungible tokens (NFTs) are attracting many players to these segments. Companies are making forays on their own and also collaborating and striking up partnerships with other organizations to jointly explore the segments and leverage the opportunity available in these fledgling sectors. One such strategic partnership took place between Bounce Finance and NFTb. According to the agreement, both companies have decided to come together to jointly explore business opportunities.
This collaboration is specifically focused on providing the INO and IDO services of both platforms to a wider set of users in the DeFi and NFT ecosystems. The partnership also aims to provide improved liquidity to NFT projects by enabling drops across different blockchain networks. In addition, this partnership will also brighten the prospects of blockchain interoperability by providing users access to cross-chain compatibility.
Both organizations have already done a tremendous amount of work by investing in top-quality creators who are engaging with their communities and fanbase through NFT drops. This is specifically beneficial to extend the benefits of enhanced liquidity access to assets of high value.
The collaboration is expected to have wider implications for the cryptocurrency and blockchain technology domains. The adoption potential of both these new-age technologies will widen with this new development as it promises to bring more customers to the segments of DeFi and NFT. Experts and analysts are closely monitoring this association to evaluate its potential in bringing growth opportunities for creators and artists. This is specifically relevant in developing a Creator Economy, where the major chunk of the revenue goes to creators and artists rather than intermediaries who otherwise walk away with most of the profit margin.