Cryptobank Seba Launches Custody Service for Ethereum (ETH) NFTs

Swiss cryptocurrency Seba Bank announced today to its customers that they can now benefit from an institutional-grade custody service for their non-fungible tokens (NFTs). Seba Bank thus adds a further service to its catalog of tools dedicated to cryptocurrencies and digital assets.

Seba Bank adopts NFTs

Instead the non-fungible token (NFT) market is in bad shapesome institutions still see potential in pixelated avatars.

Indeed, in a press release published today, Seba Banka Swiss bank specializing in cryptocurrencies, has announced that it will now offer a custody service for high-value NFTs circulating on the Ethereum (ETH) blockchain..

In other words, these are ERC-721 standard NFTs, like the mythical monkeys Bored Ape Yacht Club (BAYC), CryptoPunk or Meebit. According to the press release, Seba Bank’s clients will now be able to request an “institutional-grade custody solution with all the necessary guarantees to protect their precious NFTs”.

Thus, the latter will no longer have to worry about their private key, the NFT will be kept in the vaults of Seba Bank. Urs Berneggerco-head of markets and investment solutions at Seba Bank, welcomed this additional offer for clients of the Swiss bank:

“The range of services combined with the highest security standards makes SEBA Bank’s service offer unique and we are very pleased to be able to support our customers with our experience by expanding our service with NFT custody. »

This service thus adds to the Seba Bank catalog, which already offers cryptocurrency trading, crypto staking, numerous investment solutions, and even a digital asset custody service.

👉 Check out our guide to understand everything about NFTs

Buy NFTs on Binance

Check out the Binance NFT Marketplace 🔥

Decreasing volume, but constant interest

Since May 2022, the daily volume of NFTs traded has only decreased. However, so-called “blue chip” NFTs (understand: safe bet) continue to find interest among wealthier investors. These are the most expensive collections in this market segment, with prices sometimes reaching into the 7 figures.

market capitalization and NFT volume

Market capitalization (in purple) and volume (in blue) of the NFT market

This is especially evident in the last 30 days. Indeed, while the total volume of NFTs is at its lowest, some pieces continue to sell for millions. CryptoPunk #2924, for example, found a buyer for $4.31 million on Sept. 28.

Most sold NFTs in the last 30 days

Top NFT sellers in the last 30 days

Therefore, the custody service offered here by Seba Bank makes more sense to the extent that holders of high value NFTs logically he wants to place the token in a safe placeprobably hoping to sell them at a better price when the market rises again.

👉 In NFT news – Apple bans NFTs that unlock other content on its operating system

Buy NFTs on Binance

Check out the Binance NFT Marketplace 🔥

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Source: Seba Bank press release

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