Next Step for Institutional DeFi? Institutional NFTs
11 Mar 2021 #DFI.Money
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | Volume 24h | |
| 1 |  BTC |
Bitcoin predictions | 86.8% | 25 | $47 196.24 | -0.90% | 3.21% | $888 165 398 031 | $28 837 572 321 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 73.6% | 52 | $3 398.91 | -4.99% | 2.10% | $399 589 395 021 | $18 208 097 601 | |
| 3 |  ADA |
Cardano predictions | 70.8% | 64 | $2.35 | -2.73% | -2.59% | $75 328 517 583 | $2 502 610 105 | |
| 4 |  BNB |
Binance Coin predictions | 63.6% | 70 | $409.43 | -3.42% | 0.29% | $68 840 128 039 | $1 526 352 217 | |
| 5 |  USDT |
Tether predictions | 95.2% | 1 | $1.000772 | 0.01% | 0.06% | $68 306 683 609 | $68 957 512 774 | |
| 6 |  XRP |
XRP predictions | 71.6% | 54 | $1.072339 | -2.16% | -0.49% | $49 994 826 614 | $3 103 899 431 | |
| 7 |  SOL |
Solana predictions | 60.4% | 90 | $141.39 | -8.05% | -21.59% | $41 967 915 927 | $4 484 230 918 | |
| 8 |  DOT |
Polkadot predictions | 62% | 81 | $33.64 | -3.04% | 13.14% | $33 221 971 526 | $2 377 880 173 | |
| 9 |  DOGE |
Dogecoin predictions | 68% | 66 | $0.241295 | 0.66% | -1.25% | $31 687 836 517 | $2 275 287 430 | |
| 10 |  USDC |
USD Coin predictions | 94.4% | 1 | $1.000646 | 0.05% | 0.04% | $29 328 222 348 | $2 841 145 920 | |
| 11 |  UNI |
UniSwap predictions | 69.2% | 57 | $24.44 | -7.08% | 8.72% | $14 946 944 071 | $538 878 731 | |
| 12 |  AVAX |
Avalanche predictions | 66% | 69 | $64.90 | -2.78% | 33.59% | $14 296 604 632 | $2 005 002 749 | |
| 13 |  LUNA |
Terra predictions | 65.2% | 67 | $35.17 | -7.63% | -14.27% | $14 128 224 406 | $1 175 443 764 | |
| 14 |  BUSD |
Binance USD predictions | 94.4% | 1 | $1.000776 | 0.04% | 0.07% | $12 836 275 840 | $5 753 613 485 | |
| 15 |  LINK |
Chainlink predictions | 71.6% | 57 | $28.11 | -6.49% | 3.99% | $12 747 308 610 | $1 498 687 851 |
