Venture capital companies and angel investors are placing big bets on non-fungible tokens, including metaverse and play 2 earn cryptocurrencies.
Institutional investors have already established multi-million dollar funds dedicated to investing in crypto-based enterprises.
Curated, a $30 million crypto fund that will only invest in ventures in the NFT field, is the most recent addition. The fund aims to help creators and initiatives working in the NFT industry in addition to collecting NFTs. It also plans to contribute to open-source tools and assist producers with smart contracts, launch strategies and related activities.
The fund’s co-founders Todd Goldberg and Andre Jiang have announced plans to hold assets for a lengthy period, between 5 and 10 years. The pair have already acquired the backing of a16z’s Marc Andressen, Chris Dixon, and
Reddit’s Alex Ohanian.
Dappradar reports that NFTs generated over $4 billion of trading volume in January 2022, which is remarkable given that the total trading volume for NFTs in 2021 was $21 billion.
In an unexpected turn of events, Larva Labs, the studio behind the popular cryptopunks NFT series, has sold the IP rights to Yuga Labs of Bored Ape Yacht Club fame.
CryptoPunks is the most popular reasonably priced Ethereum-based non-fungible token series. According to the NFT analytics site CryptoSlam, the series has produced over $8 million in secondary market transactions since its debut. Its trading volume increased immediately after news of the sale emerged.
Collectors anticipate that the series’ value will skyrocket following its acquisition by Yuga Labs, which created the most popular NFT series of 2021, BAYC.
After the sale, Yuga will transfer each token’s intellectual property rights to its individual owner. While Larva Labs did not previously specify whether or not holders could monetize their digital assets, Yuga’s statement has cleared up any remaining uncertainty on this subject. Along with a substantial trading volume, the floor price, or the least permissible price for a CryptoPunk, has risen by more than 11% to roughly 75 ETH or $195000.