VanEck enters metaverse with launch of NFT collection

VanEck, an investment firm with over $82 billion in assets under management, revealed its entrance into the metaverse by releasing a collection of 1,000 nonfungible tokens (NFTs) on Monday.

The VanEck Community NFT, which is based on the Ethereum network, features an illustration of Alexander Hamilton called “Hammy” as he journeys through time and space in his quest to understand past, present and future financial policies. The New York-based investment management firm believes it will be able to showcase real-world usefulness for digital assets as well as provide a forum for investors to learn more about digital assets through the collection. A statement on the announcement reads:

“Our character ‘Hammy’ is going to be an outstanding guide for anyone interested in seeing the past, present and future of finance unfold.”

The drop will be classified as commons (750), rare (230) and legendary (20). Each NFT owner will be eligible to take advantage of several unique perks based on these three levels. Matt Bartlett, VanEck Community NFT co-founder, said that the initiative is designed to be a digital membership card that would grant unique access to a variety of events and educate users about cryptocurrency assets.

Related: Yuga Labs’ Otherdeeds NFT mint triggers backlash from community

The most recent development is less than three weeks after Jan van Eck, the CEO of VanEck, expressed his excitement about the “entire NFT phenomenon.”He reportedly stated that blockchain technology would revolutionize Wall Street, and regulatory difficulties were behind lagging adoption.

VanEck has launched several cryptocurrency offerings. Last year, the asset manager made headlines when the SEC rejected its application to establish the first Bitcoin (BTC) spot ETF. However, in November, it launched its Bitcoin Strategy ETF (XBFT), the first Bitcoin futures exchange-traded fund in the United States.

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