The institutional appetite for decentralized finance (DeFi) is being extended to incorporate the frothy world of non-fungible tokens (NFTs). Announced Tuesday, custody and wallet technology firm Trustology is providing support for Ethereum-based NFTs, with a view to allowing institutional investors to use these tokens as collateral, for example, within the DeFi space.
There’s currently an explosion happening in NFTs, which can be thought of as blockchain-based title deeds to a digital artifact. The trend is a carry-on from things like the original CrypoKitties phenomenon in 2017, with the technology (Ethereum’s ERC-721 token standard) later morphing its way deep into the world of digital art.
Today, the value being conferred on everything from art to music to seminal tweets is measured in hundreds of thousands or even millions of dollars. Meanwhile, institutional NFT is becoming a thing, with funds like Delphi Digital, Scalar Capital and Sfermion investing in digital collectibles.
Like DeFi, NFTs are normally associated with non-custodial wallets. But a collection of valuable NFT assets being managed on the behalf of a fund, for instance, would require a custody solution including rules to allow certain individuals to lend the asset or use it as collateral, said Batlin.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
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Bitcoin predictions | 74.4% | 54 | $68 221.63 | 1.27% | 2.38% | $1 346 132 518 889 | ||
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Ethereum predictions | 76.8% | 47 | $3 277.70 | 0.62% | -6.01% | $394 072 124 681 | ||
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Tether predictions | 95.6% | 1 | $1.000294 | 0.04% | -0.03% | $114 362 869 613 | ||
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Solana predictions | 64.4% | 70 | $186.46 | 3.76% | 10.05% | $86 651 629 563 | ||
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Binance Coin predictions | 77.6% | 42 | $588.60 | 1.71% | -0.56% | $85 893 706 101 | ||
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USD Coin predictions | 90.8% | 1 | $1.000218 | 0.01% | 0.02% | $34 165 068 764 | ||
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XRP predictions | 62.4% | 86 | $0.601322 | 0.08% | 1.60% | $33 650 519 304 | ||
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Dogecoin predictions | 72% | 55 | $0.135778 | 4.40% | 6.72% | $19 726 589 838 | ||
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Toncoin predictions | 83.6% | 31 | $6.74 | -0.27% | -8.09% | $16 954 582 289 | ||
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Cardano predictions | 75.2% | 49 | $0.417851 | 0.74% | -4.48% | $15 002 527 040 | ||
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TRON predictions | 86.4% | 18 | $0.137290 | 0.44% | 2.02% | $11 952 578 512 | ||
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Avalanche predictions | 77.6% | 38 | $28.70 | 1.64% | 1.95% | $11 330 467 420 | ||
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Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
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SHIBA INU predictions | 84.4% | 30 | $0.000017 | 2.35% | -3.05% | $10 173 129 198 | ||
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Wrapped TRON predictions | 90.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |
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