Accelerate Financial Launches NFT Fund, Sees Prices Bottoming

The fund will own a mix of NFT collections, including CryptoPunks and Bored Ape Yacht Club.

AccessTimeIconJun 28, 2022 at 12:30 p.m. UTC
Updated Jun 28, 2022 at 1:19 p.m. UTC

Michael Bellusci is CoinDesk's crypto payments reporter.

Alternative investment firm Accelerate Financial Technologies is starting a non-fungible token (NFT) fund in a bid to capitalize on longer-term growth in the Web3 ecosystem.

  • The Accelerate NFT Fund LP will open for business tomorrow, with plans to own a mix of “blue chip” NFTs, including CryptoPunks and Bored Ape Yacht Club collections, according to a company statement.
  • “We are still in the first inning of the growth of Web3 and believe the best way to gain exposure to Web3 is through blue-chip NFTs,” CEO Julian Klymochko told CoinDesk. “Current blue-chip NFT prices provide long-term investors with potential 10x returns, analogous to bitcoin in 2013.”
  • Though he expects NFT and ether (ETH) prices may have bottomed, Klymochko acknowledged the volatility in NFTs as an asset class. Sector drawdowns, he said, will provide strong opportunities for experienced traders.
  • Among other offerings from the firm is the Accelerate Carbon-Negative Bitcoin ETF (ABTC).

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto payments reporter.

CoinDesk - Unknown

Michael Bellusci is CoinDesk's crypto payments reporter.