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 | |
1 | BTC | Bitcoin predictions | 81.2% | 25 | $64 532.15 | 0.47% | 3.90% | $1 270 659 542 388 | ||
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2 | ETH | Ethereum predictions | 73.2% | 46 | $3 149.65 | -0.29% | 4.87% | $384 413 429 086 | ||
3 | USDT | Tether predictions | 91.6% | 1 | $0.999918 | 0.01% | -0.05% | $110 454 409 633 | ||
4 | BNB | Binance Coin predictions | 84.8% | 21 | $611.99 | 0.83% | 12.46% | $90 305 012 595 | ||
5 | SOL | Solana predictions | 65.6% | 71 | $144.58 | -2.13% | 4.21% | $64 649 305 735 | ||
6 | USDC | USD Coin predictions | 92% | 2 | $1.000075 | 0% | 0% | $33 353 548 941 | ||
7 | XRP | XRP predictions | 65.6% | 68 | $0.535511 | 1.49% | 9.72% | $29 522 240 035 | ||
8 | DOGE | Dogecoin predictions | 69.2% | 66 | $0.151631 | 0.19% | 2.62% | $21 840 804 062 | ||
9 | TON | Toncoin predictions | 67.6% | 65 | $5.44 | -1.49% | -18.53% | $18 898 583 334 | ||
10 | ADA | Cardano predictions | 61.2% | 77 | $0.477582 | 0.20% | 7.61% | $17 018 097 256 | ||
11 | SHIB | SHIBA INU predictions | 63.2% | 82 | $0.000026 | 1.90% | 17.00% | $15 160 215 811 | ||
12 | AVAX | Avalanche predictions | 64.4% | 75 | $35.70 | -0.16% | 5.44% | $13 500 695 743 | ||
13 | TRX | TRON predictions | 84.4% | 21 | $0.117420 | 2.93% | 9.68% | $10 282 370 484 | ||
14 | STETH | Lido stETH predictions | 90.8% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
15 | WTRX | Wrapped TRON predictions | 84.4% | 18 | $0.117113 | 2.72% | 9.32% | $10 255 481 245 |
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