Amundi, Europe’s largest asset manager, is contemplating offering non-fungible tokens as an investment option. According to a yet-to-be-published story reviewed by Financial News, Amundi lays out its strategy to NFTs.
They stated that they couldn’t rule out the possibility that NFTs may become investable assets in the future. As per the research, Amundi is Europe’s largest asset manager, with over $1.8 trillion in assets under management.
The company hasn’t decided how to enter the NFT market but is investigating many options.
“We’re considering whether there’s a way to invest in firms that are interested in this field on a thematic basis.”
Vincent Mortier, Amundi’s chief investment officer
He went on to say that they are considering creating a special fund to invest in NFTs.
Amundi eyeing the NFT market
Digital art and collectibles, according to Amundi’s Mortier, are the most promising areas in the NFT realm.
“Some artists solely create work for the NFT market.” This market segment has some legs and is worth investing in.” He went on to say that they were easier to keep and track; therefore, they had “some virtues.”
In recent months, digital art in the form of NFTs has sold for millions of dollars and has become part of the culture. The NFT market produced more than $7 billion in trade volume in January 2022 alone, putting it on track for another record-breaking year.
Kevin O’Leary of SharkTank fame believes that the NFT market will grow to be a “larger, more fluid market” than bitcoin. Coinbase CEO Brian Armstrong is likewise optimistic about NFTs, predicting that the market would be able to compete with the company’s crypto business by 2021. American rapper Snoop Dogg is all in for NFTs and their possibilities.
Amundi’s stand on cryptocurrency
Amundi is still dubious about cryptocurrencies. According to Mortier, the firm’s attitude on crypto remains unchanged, and its interest in the NFT sector has not altered.
“On crypto, we haven’t changed our minds. It’s far too speculative, and there are a lot of unanswered questions.”
Amundi has always taken a cautious approach to cryptocurrencies and decentralized finance. The asset manager has previously cautioned customers against investing in cryptocurrency, referring to it as “an asset with no fundamental value.”
One of their articles stated that Cryptocurrencies (CCs) could not be regarded as money. They added that it is neither a proven store of value, a recognized unit of account nor a universal means of payment.