NFTFi, or "NFT finance," is an emerging field that integrates non-fungible tokens (NFTs) with decentralized finance (DeFi) to enhance the financial utility, liquidity, and risk mitigation opportunities for NFT market participants. It involves a variety of decentralized protocols and applications, such as lending and borrowing where NFTs are used as collateral, fractionalization which allows NFTs to be divided into fungible tokens, NFT indices providing market exposure, and prediction markets for speculating on NFT prices. These innovations aim to create more liquid and efficient markets by allowing NFTs to be used in sophisticated financial activities traditionally reserved for more liquid assets. A key challenge is obtaining reliable NFT price data due to their unique and illiquid nature, which is addressed by services like Chainlink's NFT Floor Price Feeds that provide secure and accurate pricing through decentralized oracle networks. As the NFT and DeFi ecosystems continue to evolve, NFTFi is expected to expand its impact by offering new financial opportunities and tools for market participants.