Wave Financial Launches First Traditional NFT Fund
- The Wave NFT Fund will allocate its asset in a 70/30 split across collectibles and platforms/protocols.
- The company said it also might use machine learning to formulate pricing and valuation models for NFTs.
Beeple ” EVERYDAYS: THE FIRST 5000 DAYS” NFT collage art, Stafford, UK, March 12, 2021mundissima/Shutterstock
Digital asset investment firm Wave Financial has launched a new fund offering today, bringing the world of NFTs closer to institutional investors. According to a press release published on 18 August, the company launched the Wave NFT Fund, the world’s first traditional fund focused on investing in NFTs, NFT protocols, and platforms.
The fund is a direct response to the growing interest in the NFT marke t— in Q1 2021, more than $2 billion worth of NFTs were traded, reaching volumes 131 higher than those recorded in Q1 2020. If the current trend continues, Wave estimated the market may grow to more than $500 billion by 2030.
Les Borsai, the Co-Founder and Chief Strategy Officer of Wave, said the company launched the fund to allow investors the opportunity to participate in the NFT market that goes beyond just collecting.
The Fund will allocate its assets in a 70/30 split across collectibles and platforms and may even include a portfolio of cryptocurrencies. Wave Financial will evaluate NFTs using a blend of financial analytics and the creators’ talent and market value. The company said it also may use machine learning to formulate pricing and valuation models for NFTs by studying transaction data.
“Our proprietary approach to selecting NFTs to hold within the Fund offers our investors exposure to art and collectibles of real value in a way that has never been done before,” Borsai explained in the company’s release.
- Being more prone to taking risks and investing money in new technologies, millennials definitely have a big impact on the global economy.
- With most of the current workforce consisting of millennials, this generation has become the deciding factor behind the success and failure of many industries.
Shutterstock
- One of the main points in Shanghai’s five-year development plan was metaverse, with the government planning to fund more than 100 firms focused on virtual reality.
- The city will also encourage the development and application of “blockchain+” technology, and the promotion of NFT trading platforms.
- WeChat, China’s largest social media platform with over 1.1 billion daily users, has changed its policy and will now ban accounts connected to crypto and NFTs.
- The platform has placed “engaging in virtual currency or digital collection business” under its illegal operations clause, meaning it will be considered as “violating content”.