Swiss crypto bank Seba Bank announced today to its clients that they can benefit from an institutional-grade custody service for their non-fungible tokens (NFTs). So Seba Bank is adding an additional service to its catalog of tools dedicated to cryptocurrencies and digital assets.
Seba Bank accepts NFTs
Whereas the market for non-fungible tokens (NFT) has a bad reputation.some institutions still see some potential in pixelated avatars.
Indeed, in a press release published today, Seba BankSwiss bank specializing in cryptocurrencies, announced that it will now offer a a custodial service for high-value NFTs circulated on the Ethereum (ETH) blockchain..
In other words, it applies to standard ERC-721 NFTs, like the mythical monkeys Bored Ape Yacht Club (BAYC), CryptoPunks or Meebits. According to the press release, Seba Bank customers will now be able to “demand an institutional-grade custody solution with all the necessary guarantees to secure their precious NFTs”.
Therefore, the latter will no longer have to worry about their private key, the NFT will be held in the vaults of Seba Bank. Urs BerneggerSeba Bank’s joint head of investment markets and solutions, welcomed this additional offer to Swiss bank clients:
“The range of services combined with the highest security standards make 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 under NFT custody. »
So this service is 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 size, but continued interest
Since May 2022, the daily volume of NFTs traded has only decreased. However, the so-called “blue chip” NFTs (meaning: safe bet) continue to gain interest among the wealthiest investors. This applies to the most expensive collections in this market. and sometimes prices reach 7 figures.
Market capitalization (in purple) and volume (blue) of the NFT market
This has been a hit for the past 30 days. In fact, while the total number of NFTs is at its lowest level, Some pieces continue to sell for millions. CryptoPunk #2924, for example, found a buyer for $4.31 million on September 28th.
Top NFT sellers in the last 30 days
Therefore, the custody service offered by Seba Bank makes more sense here than holders of high value NFTs. logically trying to put their sign in a safe placeprobably with the hope of reselling them at a better price when the market picks up again.
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Source: Seba Bank press release
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Maximilien Pru
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