Swiss crypto bank Seba Bank today announced to its clients that they can now benefit from an institutional-grade custody service for their non-fungible tokens (NFTs). Seba Bank is thus adding an additional service to its catalog of tools dedicated to cryptocurrencies and digital assets.
Seba Bank adopts NFTs
Whereas the market for non-fungible tokens (NFT) is in bad shapesome institutions still see some potential in pixelated avatars.
Indeed, in a press release published today, Seba Banka Swiss bank specializing in cryptocurrencies, has announced that it will now offer a custody service for high-value NFTs circulating on the Ethereum (ETH) blockchain.
In other words, it concerns ERC-721 standard NFTs, such as the mythical monkeys Bored Ape Yacht Club (BAYC), CryptoPunks or Meebits. According to the press release, Seba Bank customers will now be able to claim an “institutional-grade custody solution with all the necessary guarantees to secure their precious NFTs”.
Thus, the latter will no longer need to worry about their private key, the NFT will be held in the vaults of Seba Bank. Urs BerneggerSeba Bank’s co-head of markets and investment solutions, welcomed this additional offering for the Swiss bank’s clients:
“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique and we are very pleased to be able to support our customers with our expertise by expanding our service with NFT custody. »
This service is thus added to the catalog of Seba Bank, which already offers cryptocurrency trading, crypto staking, numerous investment solutions, and even a digital asset custody service.
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Decline in volume, but constant interest
Since May 2022, the daily volume of NFTs traded has only decreased. However, the so-called “blue chip” NFTs (understand: safe bet) continue to find interest among the wealthiest investors. This concerns the most expensive collections in this market segment, with prices sometimes reaching 7 figures.
Market capitalization (in purple) and volume (in blue) of the NFT market
This is particularly striking over the last 30 days. Indeed, while the total volume of NFTs is at its lowest, some pieces continue to sell for millions. CryptoPunk #2924, for example, found a buyer for $4.31 million on September 28.
NFT Top Sellers in the Last 30 Days
Thus, the custody service offered here by Seba Bank makes more sense insofar as holders of high-value NFTs logically wish to place their token in a safe placeprobably in the hope of reselling them at a better price when the market goes up again.
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Source: Seba Bank press release
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