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- Amundi, Europe’s largest asset manager, is considering developing products to provide investors with exposure to non-fungible tokens.
- Amundi, based in Paris, handles over €2 trillion (£1.68 trillion) in assets and has outlined its strategy to NFTs in a yet-to-be-published paper obtained by Financial News.
Amundi, Europe’s largest asset manager, is considering developing products to provide investors with exposure to non-fungible tokens, which are part of a burgeoning digital assets market that has transacted billions of dollars in the last year.
#must-to-know facts about Amundi
According to an unpublished Financial News article, Amundi, a French financial services company, plans to enter the NFT market and provide investment options to its clients. Amundi is Europe’s largest asset manager, according to the study, with over $2 trillion in assets under management.
However, the company has not yet decided how it will enter space. NFTbut is evaluating a variety of options. She analyses if it is possible to invest in enterprises fighting in the NFT race on a thematic basis. Vincent Mortier, Amundit’s Investment Director, told the publication. A separate fund will be established by the asset manager to invest in NF.
According to DappRadar’s industry research, the NFT business has been rising since last year, with a transaction volume of more than $23 billion in 2021. NFTs, or digital arts, have sold millions of dollars in recent months and are now popular. The market NFT generated more than $7 billion in trade volume in January 2022 alone, on course to establish a new record.
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What Is an NFT, Exactly?
The Charlie Bit My Finger video, which sold for £500,000 in May, is an example of a non-fungible token, which is a digital asset that represents a physical object. NFTs are routinely acquired and exchanged online, often using cryptocurrency, and are encoded using the same underlying software as several cryptocurrencies.
NFTs are growing more popular as a way to buy and sell digital art, despite the fact that they’ve been around since 2014. NFTs have cost a staggering £123 million since November 2017.
NFTs are frequently one-of-a-kind or limited-edition, and each has its own identification code. “Essentially, NFTs generate digital scarcity,” explains Arry Yu, managing director of Yellow Umbrella Ventures and head of the Washington Technology Industry Association’s Cascadia Blockchain Council.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
