CoinFund is doubling down on the non-fungible token (NFT) market with a new investment vehicle, Vanessa Grellet, head of portfolio growth, revealed in the latest episode of The Scoop.
Called Metaversal, the new vehicle will serve both as a means for investors to bet on the entire market and as a development studio for NFT companies.
CoinFund has been one of the most important bulls in the NFT market to date. Now he is launching Metaversal despite the recent decline in use on platforms for trading blockchain-based collectibles and other NFT-based assets.
Grellet said that despite the crisis, there was still “so much demand”.
“Even if you see a slowdown in consumption, I think we are going to see a lot of tools around lending, around the financialization of NFTs that will make the NFT space even bigger than other spaces like DeFi, etc. . ” she said.
CoinFund has already been very active in the NFT market. The company led Rarible’s $ 14 million fundraiser, which was announced earlier this month. He is also an investor in Dapper Labs, Genies and NFTfi, according to his website.
The NFT market saw tremendous growth earlier this year, with weekly trading volume reaching nearly $ 200 million at the end of February. It was around $ 40 million the week of June 20.
“NFTs are more than art, they are more than just collectibles, think about contracts, think about other aspects of your life that are unique, anything you can create an NFT about,” Grellet said. “So the sky is the limit.