Asset management giant VanEck has become the first firm in its field to release a non-fungible token (NFT) collection.
VanEck, which managed $82 billion in assets under management as of July 2021, said in an announcement that it’s releasing a 1,000 NFT collection meant to showcase the real-world utility inherent in the NFT structure.
The firm says it “finds this utility compelling for the long-term growth story of both this space and the underlying smart contract technology.”
The NFTs will be launched on Ethereum, and are being designed in a partnership with NUMOMO, a Korean-based NFT agency. According to the press release, the project will trace the journey of a fictional character named Hammy, who is modelled after American Founding Father Alexander Hamilton.
The first release, dubbed “Episode One: Printing Press” can be viewed on VanEck’s signup page.
1,000 NFTs will be divided into three categories, including 750 “commons,” 230 “rares” and just 20 “legendary” NFTs.
“We’ve designed the VanEck Community NFT to function like a digital membership card, providing NFT holders with exclusive access to a wide range of events, digital asset research and the insights of an inclusive community of digital assets enthusiasts and investors,” said Matthew Bartlett, VanEck Community NFT Co-Founder.
“Since NFTs first emerged as a means to showcase compelling digital art, we haven’t overlooked that part of the equation either. Our NFTs will all feature eye-popping 3D avatars and narrative-style videos that will help create a real sense of story and spur discussion, debate and community. Our character ‘Hammy’ is going to be an outstanding guide for anyone interested in seeing the past, present and future of finance unfold,” added JP Lee, VanEck Community NFT Co-Founder.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.