NFTs have found their way into the realm of decentralized finance (DeFi), offering novel financial instruments and investment opportunities. NFT fractionalization enables the division of ownership rights into smaller shares, allowing investors to own a portion of high-value assets. This has unlocked liquidity for illiquid assets, such as real estate or rare collectibles. Additionally, NFT-backed loans have emerged, enabling users to borrow against their digital assets, further expanding the financial applications within the crypto industry.

The development of NFTs has presented new possibilities for protecting intellectual property rights. By tokenizing creations as NFTs, artists and content creators can establish a digital proof of ownership and timestamp their work on the blockchain. This has the potential to revolutionize copyright enforcement, making it easier to track and prove ownership of digital content. However, challenges remain in ensuring comprehensive protection and addressing potential infringements in the NFT space.

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