Venture capital firm CoinFund has just announced it is increasing its efforts in the NFT industry by rolling out a new investment product in non-fungible tokens.
Vanessa Grellet, head of portfolio growth of the company, has unveiled during an episode of the podcast episode of The Scoop that the vehicle, dubbed Metaversal, will allow investors to place bets on the traditional market. In addition, it will also act as a development studio for NFT-related firms.
We should take into account that CoinFund is being very brave, as according to statistics, the sale of NFTs plummeted in June.
Grellet said that the company has made the decision to launch these investment vehicle in spite of the bad numbers of the NFT sector arguing the following:
“Even though you see a slowing down in the consumption, I think we are going to see a lot of tools around lending, around the financialization of NFTs that are going to make the NFT space even larger than other spaces like DeFi, etcetera.”