NFTs are becoming the latest crypto asset to experience institutionalization.
The introduction of new institutional products could reinforce this phenomenon.
"It’s pretty clear there is a large cohort of whales that are always in the market, but what they are investing in is constantly changing," said one trader in the market. "No one just goes to stablecoins to ride out the winter." As for Genesis's new institutional platform, Genesis hopes it will serve as a destination to address"both liquidity and hedging requirements amidst recent high-profile raises of NFT venture funds."
"While this market is still in its nascent stages, we believe institutional adoption will continue to grow, and that the appetite for NFTs and metaverse ecosystems will continue to develop rapidly among both institutional and mainstream audiences," Genesis explained. NFT volumes have surged since the start of the year, with OpenSea setting a record after clocking in more than $3.5 billion in total volumes as of January 27, as per
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