At this point, non-fungible tokens, popularly known as NFTs, need no introduction. A by-product of blockchain technology, these digital collectibles have seemingly established themselves as digital diamonds and created immense new opportunities in industries like art, entertainment, and gaming. However, while NFT sales are skyrocketing, financial experts from across the globe are still debating whether these digital collectibles have any use-cases at all. To their satisfaction, most NFT projects too haven’t yet been able to present any use-cases for the “JPEGs”. But the SYNC Network is changing this for the better. By combining NFTs with DeFi, the SYNC network is actively changing the way the DeFi ecosystem operates and cementing the place of NFTs in the financial markets. CryptoBonds: The Introduction of a New Crypto Asset Class SYNC Network is an Ethereum-based platform that recently introduced a new asset class called CryptoBonds to the DeFi space. Holding an ERC-721 contract, CryptoBonds are essentially time-locked NFTs that generate rewards for their holders. Okay! But, what are they actually used for? In simple terms, these NFTs are used to provide liquidity to decentralized exchange protocols. Liquidity mining is probably the most popular reward system in the DeFi ecosystem today. Projects rely on it to create liquidity for users and keep their platform running while investors use it to earn yields on their digital asse...
