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Decentralized Finance (DeFi) is a financial technology that uses blockchain, cryptocurrencies, and peer-to-peer networks to remove third parties and centralized institutions from financial transactions1. DeFi applications are designed to communicate with a blockchain, allowing people to use their money for purchases, loans, gifts, trading, or any other way they want without a third party.

Non-fungible tokens (NFTs) are digital assets that are unique and cannot be replicated 1. They are created by tokenizing real-world assets such as artwork, real estate, or identities via a blockchain