Why do we need wrapped tokens?

Could you explain the need for wrapped tokens? I'm curious about the rationale behind their existence. How do they fit into the larger cryptocurrency and finance landscape? Do they offer unique benefits or functionalities that are not achievable through other means? I'd like to understand the specific reasons why we might need wrapped tokens in our transactions and investments." Wrapped tokens have become increasingly popular in the cryptocurrency world, but their purpose and significance can be somewhat opaque to those not deeply involved in the field. They serve as a bridge between different blockchains, enabling assets from one chain to be used on another. This interoperability unlocks a range of new possibilities, such as accessing liquidity pools or participating in decentralized finance protocols that might not otherwise be accessible. Moreover, wrapped tokens can offer increased security and flexibility in certain transactions. By wrapping an asset, it can be more easily integrated into smart contracts and decentralized applications, expanding its use cases and potential utility. This can be especially useful in cross-chain transactions, where direct compatibility between assets might not exist. So, the question remains: why do we need wrapped tokens? In essence, they provide a means to bridge the gaps between different blockchains, enhancing the interoperability and functionality of cryptocurrencies. They offer unique benefits that can expand the reach and utility of digital assets, making them more versatile and accessible in a rapidly evolving financial ecosystem.