Non-fungible tokens are tokenized media (think art, videos, and beyond) that trade atop blockchains like Ethereum, namely in NFT marketplaces like OpenSea and Rarible.
These special tokens provide provenance and ownership around digital assets to an extent that’s never been possible before. This year, Ethereum’s decentralized finance (DeFi) sector has rapidly heated up, yet in the same span and on a comparatively smaller scale, the reigning smart contract platform’s NFT arena has also been seriously blooming in parallel.
In fact, the arena’s bloomed enough that some of the wider cryptoeconomy’s most influential figures aren’t just paying attention — they’re now diving in.
Morgan Creek Digital’s Onboard
Anthony Pompliano is best known in crypto for his long-time Bitcoin advocacy. But now “Pomp” and his fellow Morgan Creek Digital co-founder Jason Williams are jumping headlong into the NFT-powered digital art scene, too.
That’s per the September 21st edition of The Pomp Letter, titled “The Next Big Bet — Digital Art.”
Therein, Pomp revealed he and Williams had recently been increasing their investments into the NFT art sector, including a new flagship commission of the talented up-and-coming artist FEWOCIOUS.
[NEW POST] The Next Big Bet — Digital Art@GoingParabolic and I have been investing heavily in digital art because we believe the market cap will eventually eclipse the traditional art market.
— Pomp 🌪 (@APompliano) September 21, 2020
“I personally believe that the digital art market cap will grow to become larger than the physical art market cap,” Pompliano said in the post.
BlockTower’s “Tripling Down” on NFTs
Like Morgan Creek Digital, BlockTower Capital is another highly recognized crypto investment firm. Which is why heads turned this week when BlockTower’s Ari Paul announced the company was planning to invest more than $10 million…