Next Step for Institutional DeFi? Institutional NFTs
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 | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 70.4% | 62 | $38 967.91 | -7.44% | -7.59% | $737 892 869 372 |  |
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| 2 |  ETH |
Ethereum predictions | 60.4% | 78 | $2 871.05 | -8.60% | -11.22% | $342 372 023 455 |  |
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| 3 |  USDT |
Tether predictions | 95.6% | 1 | $1.000160 | -0.01% | -0.02% | $78 287 072 748 |  |
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| 4 |  BNB |
Binance Coin predictions | 71.2% | 56 | $428.81 | -7.90% | -9.28% | $70 802 974 684 |  |
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| 5 |  USDC |
USD Coin predictions | 95.2% | 1 | $1.000296 | -0.04% | 0.05% | $42 399 121 779 |  |
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| 6 |  ADA |
Cardano predictions | 74.4% | 49 | $1.23 | -8.69% | -1.46% | $41 378 123 412 |  |
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| 7 |  SOL |
Solana predictions | 61.6% | 87 | $123.51 | -9.84% | -13.96% | $38 846 684 963 |  |
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| 8 |  XRP |
XRP predictions | 68.8% | 59 | $0.691874 | -6.72% | -9.81% | $32 976 873 993 |  |
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| 9 |  LUNA |
Terra predictions | 69.6% | 58 | $77.73 | -5.70% | -0.40% | $27 703 412 550 |  |
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| 10 |  DOT |
Polkadot predictions | 72.8% | 48 | $22.45 | -8.55% | -14.69% | $22 171 004 822 |  |
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| 11 |  DOGE |
Dogecoin predictions | 71.6% | 50 | $0.153961 | -6.54% | -20.35% | $20 426 155 179 |  |
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| 12 |  AVAX |
Avalanche predictions | 66% | 77 | $76.46 | -9.87% | -13.92% | $18 683 659 839 |  |
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| 13 |  BUSD |
Binance USD predictions | 90.8% | 1 | $0.999181 | -0.15% | -0.05% | $14 221 363 997 |  |
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| 14 |  SHIB |
SHIBA INU predictions | 66% | 68 | $0.000026 | -7.57% | -15.60% | $14 165 186 561 |  |
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| 15 |  MATIC |
Polygon predictions | 66% | 64 | $1.90 | -8.89% | -14.69% | $14 121 576 857 |  |
