I'll actually try to add and defend crypto a little bit here: > I think this is where insurance companies generally pop up as a solution. Real legitimate DeFi

I'll actually try to add and defend crypto a little bit here: > I think this is where insurance companies generally pop up as a solution. Real legitimate DeFi protocols are now often supported by DeFi insurance as well. I know nothing about Axie Infinity and have no idea if this applies for them at all. > (still thinking it's a solution waiting for a problem) IMO, although this has been said many times the past few years, I think we're starting to get past this. In a very simplified view, DeFi protocols that do lending (e.g. loans based on collaterals), can do this fully automated, and it's because "the money is programmable" thanks to smart contracts and value stored. This type of lending took human work to do in TradFi and has overhead, in both costs and speed. I feel like this is the start of what real solutions/applications look like; it's something that wasn't possible before.