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How may NFTs and Web3 be affected by regenerative finance (ReFi)?

How may NFTs and Web3 be affected by regenerative finance (ReFi)?

How may NFTs and Web3 be affected by regenerative finance (ReFi)?

NFT Steez chats with Celo NFT leader Mashiat Mutmainnah about ReFi’s promise and its ability to advance environmental and social well-being. On September 30th, NFT Steez, a bi-weekly Twitter feed hosted by Alyssa Expósito and Ray Salmond, sat down with Mashiat Mutmainnah to discuss how regenerative finance (ReFi) can make blockchain technology more accessible and inclusive. As a “mission-driven movement,” Mutmainnah explains that ReFi allows users to redefine their relationship with
, the current financial system, and their relationship with finance and wealth. Currently, millions of people in many countries do not have basic equitable access to the financial services that would allow them to meet their daily needs.

What is the impact of ReFi?

NFT Steez chats with Celo NFT leader Mashiat Mutmainnah about ReFi’s promise and its ability to advance environmental and social well-being. On September 30th, NFT Steez, a bi-weekly Twitter feed hosted by Alyssa Expósito and Ray Salmond, sat down with Mashiat Mutmainnah to discuss how regenerative finance (ReFi) can make blockchain technology more accessible and inclusive. As a “mission-driven movement,” Mutmainnah explains that ReFi allows users to redefine their relationship with the current financial system, and their relationship with finance and wealth. Currently, millions of people in many countries do not have basic equitable access to the financial services that would allow them to meet their daily needs.

Can Web3 and NFTs be used for social and public improvement?

When asked if non-fungible tokens (NFTs) could be used for public and social good, Mutmainnah pointed to a pilot program that includes an “NFT loyalty rewards program.” Similar to Starbucks’ latest NFT loyalty program, Mutmainnah explained how a similar program could bring positive and lasting benefits. For example, imagine you buy an NFT that can give the holder free coffee for 10 days. In these models, NFTs can operate more economically. realizable advantages compared to the purchase of item and at the same time generate more attention for the product or service. Contrary to the hype and speculation circulating NFTs in 2021, more and more developers and platforms are expanding and exploring peer-to-peer and peer-to-peer use cases. -Business initiatives.

But that doesn’t mean adoption is easy. According to Mutmainnah, beyond NFTs, there are many “infrastructure pieces” to survey, including creating more vital products that make this happen. Mutmainnah explained that it’s kind of a dance between “making a product smooth” for a smooth launch and empowering the user to be an “advanced” user who “takes full responsibility for their assets”.

The Crypto Sustainability Coalition

The ReFi movement has provided a space for innovators, creators and advocates to re-imagine climate action at a pace unhampered by rampant bureaucracy and politicization in legacy sustainability systems. Web3’s climate tools and services share ReFi’s inherent values ​​and are critical to the level of global coordination needed to tackle climate change. These values ​​include building cooperatives, democratic ownership within communities, community utility optimization, creative sustainability, radical inclusion, non-extraction, and intentional restoration. The World Economic Forum has established a new initiative – the Crypto Sustainability Coalition – dedicated to these values, aiming to facilitate a balanced, research-driven narrative shift that highlights the positive externalities and real-world use cases that abound in the space.

The Crypto Sustainability Coalition is focused on how blockchain tools can be leveraged for positive climate action. The Forum works with a multi-stakeholder community to bridge the gap between traditional and emerging sustainability systems and demonstrate its thought leadership in a multi-chain Web3 world.

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