Alternative investment firm Accelerate Financial Technologies is starting an NFT fund in a bid to capitalize on longer-term growth in the Web 3 ecosystem.
The Accelerate NFT Fund LP will open for business tomorrow, with plans to own a mix of “blue chip” NFTs, including CryptoPunks and Bored Ape Yacht Club collections, according to a company statement.
“We are still in the first inning of the growth of Web 3 and believe the best way to gain exposure to Web 3 is through blue-chip NFTs,” CEO Julian Klymochko told CoinDesk. “Current blue-chip NFT prices provide long-term investors with potential 10x returns, analogous to bitcoin in 2013,” he added.
Though he expects NFT floors and ether (ETH) prices may have bottomed, Klymochko acknowledged the volatility in NFTs as an asset class. Sector drawdowns, he said, will provide strong opportunities for experienced traders.
Among other offerings from Accelerate is a publicly traded carbon-negative Bitcoin ETF (ABTC).