VanEck, a famous global investment manager, announced on Monday that it would establish its NFT collection, which will be centered on its cryptocurrency community. According to the firm, the collection aims to demonstrate the practical usage of NFTs.
The NFT collection for VanEck’s Community will be termed “the VanEck Community NFT” and will comprise of about 1000 tokens hosted on the Ether blockchain. The company has been actively invested in cryptocurrency over the last two years. An airdrop of the NFT tokens will be released this week, with the first 1000 individuals who register for the offer receiving a token.
VanEck Believes NFTs Have Practical Applications In The Real World
The company said in a news statement that it wants to use the NFT series to illustrate the real-world applicability of NFTs in various forms. In order to do this, the NFTs will serve as a digital membership card for those who have them.
Owners of the Non-Fungible Tokens will be eligible for a variety of perks, which may include quick entry to the company’s crypto-asset research as well as invites to special events and conferences.
The benefits provided by NFTs will vary depending on how rare they are, which are divided into three categories. The production of the NFTs is done in collaboration with Numomo, an NFT company in South Korea. The digital art of the tokens will be based on the figure “Hammy,” which is a fictional version of the character Alexander Hamilton, as he investigates monetary policy in the United States.
Adoption Of NFTs Continue To Rise
The increased investment in blockchain tech from conventional financial institutions is reflected in the recent report from VanEck. NFT volumes just reached an all-time high, indicating that the boom which was recorded in 2021 has not dropped.
In addition to web3 players, the success of NFTs has brought a number of non-web3 participants to the sector. Companies like American Express have been seen registering for trademarks to launch NFTs, while Adidas and Nike have both launched their collections in response to the trend. VanEck is not new to the latest Web3, having been one of the first to launch a BTC futures ETF (Exchange-traded fund) in 2021.
The company was also planning to launch the first BTC ETF in the US, but the nation’s regulatory watchdog got involved and stopped the plan from happening. Although there has been a recent spike in gas fees for minting NFTs, the usage continues to increase.