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SEBA financial institution, a crypto-friendly financial institution in Zug, Switzerland, on Wednesday, introduced the launch of an NFT custody answer that offers clients the flexibility to carry Non-Fungible Tokens (NFTs) with out the effort of managing non-public keys themselves.
The Swiss financial institution stated the brand new service is ready to allow clients to retailer any Ethereum-based NFTs, particularly blue-chip NFTs – these which might be best-known and have constantly maintained a excessive market worth corresponding to CryptoPunks, Bored Apes, and Clone X.
SEBA Financial institution stated the custody answer supplies its shoppers with absolute confidence within the safety of their NFTs, managed like another digital asset.
Though the NFT market stays down from its peak in late 2021 and early this yr, the belongings are nonetheless attracting patrons.
Blue chip NFTs, which are sometimes thought of an excellent long-term funding, marked their greatest efficiency in April whereas Could and June had been their worst-performing intervals in blue chip NFT historical past.
Gross sales of NFTs declined sharply within the third quarter, as crypto traders’ buying actions have been cooled down by crypto winter whereas central financial institution fee hikes immediate traders to ditch dangerous belongings.
In accordance with blockchain tracker DappRadar, the third quarter of this yr recorded $3.4 billion in NFT gross sales, down from $8.4 billion the earlier quarter and $12.5 billion on the market’s peak within the first quarter of the yr.
Regardless of many NFT traders making losses on sale trades at present, the variety of traders that maintain their NFT investments continues to rise. In June and July alone, almost 500,000 customers joined the rising pool of NFT traders who intend to carry for the long run, taking the variety of holders above 3 million at the moment.
SEBA’s NFT custody service is a response to the rise in institutional traders seeking to spend money on the NFT panorama. A spokesperson from SEBA Financial institution additional disclosed that main market members additionally want a regulated custodian to make sure the safety and integrity of NFTs.
At first, SEBA stated its custody providing is open for present and new clients who should be institutional or skilled traders.
Picture supply: Shutterstock
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