Bitcoin
$43,992.34-0.88%
Ethereum
$2,353.52-0.50%
Binance Coin
$239.76+0.34%
XRP
$0.671843720.00%
Solana
$73.54+0.25%
Cardano
$0.58934552+7.34%
Dogecoin
$0.09996524-0.52%
Avalanche
$32.31+9.44%
Tron
$0.10763911+0.43%
Polkadot
$7.23+7.75%
Chainlink
$16.51-1.96%
Polygon
$0.89595415-1.04%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

Accelerate Financial Launches NFT Fund, Sees Prices Bottoming

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

By Michael Bellusci
AccessTimeIconJun 28, 2022 at 12:30 p.m. UTC
Updated May 11, 2023 at 4:16 p.m. UTC
Mutant NFT with Accelerate Financial logo (Accelerate Financial Technologies Inc.)

Mutant NFT with Accelerate Financial logo (Accelerate Financial Technologies Inc.)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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 an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Author placeholder image
Michael Bellusci

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

Follow @mikeybellusci on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.