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Last day, two new financial products related to non-fungible tokens (NFT) were announced: Asset manager Bitwise launched the first ever index fund to track NFTs, and crypto lender Nexo (NEXO) launched an exclusive first lending table. for NFT investors.
According to a tweet from Matt Hoogan, Chief Investment Officer of Bitwise, the Bitwise Blue-Chip NFT Index Fund will feature a selection of 10 most valuable NFT collections in the world, including famous collections such as CryptoPunks, Bored Ape Yacht Club. , Yacht Club Mutant Ape and others.
The Bitwise website says that CryptoPunks and Bored Ape Yacht Club make up the largest part of the fund’s collections, accounting for 36.5% and 29.6% of the fund, respectively.
Top-3 funds of the fund:
The new foundation will focus on “art and collectibles,” with the exception of other NFT categories such as music rights, virtual land, and in-game items, Hugan said.
The foundation will also exclude digital art from collections of less than 100 items, as these works are considered “too illiquid,” Hugan wrote.
According to Bitwise, the fund is ideal for investors who are “intrigued by the NFT market, but don’t have the time or inclination to participate in periodic auctions or bid on individual artwork.”
“[I]It became clear that any conversation about the potential of cryptocurrency must include NFTs, which are fundamentally changing the way we think not only about the ownership of works of art, but also about property rights in general, ”said Bitwise CEO Hunter Horsley in a comment.
However, it is important to note that with regard to the fund, it should be noted that for now it will only be available as a private placement opportunity for accredited US investors, which effectively means that it is reserved for institutions and certain high net worth individuals.
The minimum investment amount is $ 25,000, according to the fund’s newsletter.
Opening of credit lines NFT
Meanwhile, crypto lender Nexo announced on Thursday that it has launched a new investor lending service, NFT, in partnership with crypto hedge fund Three Arrows Capital.
The service allows investors to borrow up to 20% of the value of their crypto-banks or Bored Ape Yacht Club NFTs without selling them, thereby opening up a new way for NFT holders to allocate capital more efficiently.
The value of the NFT at which an investor wants to obtain a line of credit must exceed $ 500,000, while the loan can be obtained in either Ethereum (ETH) or stablecoins, according to the Nexo website.