Redefine Your Relationship With the Financial System: Regenerative Finance (ReFi)
-Regenerative finance (ReFi) is a mission-driven movement that enables users to redefine their relationship with the financial system.
-ReFi aims to bring awareness to how current financial systems operate in an “extractive” and “exploitative” manner.
-ReFi has enabled “tangible and accessible use cases” that can increase users’ overall prosperity and quality of life.
On this week’s episode of NFT Steez, hosts Alyssa Expósito and Ray Salmond had the chance to speak with Mashiat Mutmainnah, lead of NFTs at Celo, about regenerative finance (ReFi) and its capacity to promote social and environmental good. Mutmainnah began the conversation by explaining what ReFi is and why it is necessary.
ReFi is a mission-driven movement that allows users to redefine their relationship with the financial system. It is intended to bring awareness to how the present financial systems operate in an “extractive” and “exploitative” manner, and to provide equitable accessibility and distribution. Mutmainnah also compared ReFi to fast fashion, noting that although it is possible to purchase a shirt for as little as five dollars, this often comes at the expense of a child laborer. Mutmainnah emphasized that ReFi is not only about climate, but also provides tangible and accessible use cases that can increase the overall prosperity and quality of life of its users.
The conversation then shifted to NFTs and Web3, and Mutmainnah discussed the potential of ReFi to impact both of these technologies. Mutmainnah explained that ReFi has the capacity to open up new opportunities within the NFT space, such as the potential for users to finance their NFTs or to use them as collateral for loans. Similarly, ReFi could also help to make Web3 more accessible, enabling users to access capital to build out projects or to invest in decentralized applications.
Finally, Mutmainnah discussed the importance of ReFi in promoting environmental and social good. She emphasized that ReFi is an opportunity to create a more equitable and sustainable financial system, one that is not only beneficial to its users, but also to the environment and the world at large.
In conclusion, Mutmainnah’s insight into ReFi and its potential impact on NFTs and Web3 was both informative and inspiring. With ReFi, users have the opportunity to redefine their relationship with the financial system, access capital to build out projects, and create a more equitable and sustainable world.