Highlighting that NFT is real, 76% of the capital was allocated to gaming and nonfungible tokens. The capital was gotten from roughly $432 million raised in at least nine fundraising deals in the last two weeks.
Dapper the lab the company behind the NBA digital collectible platform, that got over $304 million in private funding at a $2-6billion valuation, underpinned amlost 93% of the capital raised by gaming and NFT companies.
Conventional banks are opening up to the world of digital assets to their clients, because of the hot trends in the institutional market. For instance, Goldman Sachs supports the trend by announcing the launch of digital asset products in Q2 2021, while Morgan Stanley filed to add Bitcoin to several portflios.
Digital asset investment vehicles are turning into a complicated mosaic. While Grayscale is “100% committed” to making its biggest crypto fund an exchange-traded fund, the second- and third-largest digital asset managers, CoinShares and 3iQ, have joined forces to launch a Bitcoin ETF.
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More exotic products have also been unveiled, including the new micro Bitcoin futures contract by CME in addition to the Litecoin ETP by CoinShares, as well as an investment vehicle for “unique” digital products, such as artwork by NFT Investments.