SEBA launch regulated custody for Ethereum blue-chip NFTs but Why?

SEBA Bank introduces regulated custody services for Ethereum blue-chip NFTs despite the present-day overall downfall of NFTs. What could this mean?

SEBA launch regulated custody for Ethereum blue-chip NFTs but Why?

SEBA bank has announced to offer a custody service specialised in NFTs. This particular service will help customers to hold Ethereum- based NFTs without the hassle of managing the private keys themselves. This makes SEBA to become the first regulated bank working with NFTs.

SEBA’s clients will now be able to deposit non-fungible tokens (NFTs) in their bank accounts. The focus is on popular well-known blue- chip NFT collections like Bored Apes, CryptoPunks and Clone X particularly because of their ability to have maintained a high- market value over a period and high investment return. This is similar to just depositing any other types of digital assets. The bank, on the other hand, will include the tokens in the total wealth picture of its clients.

**Why Blue-chip NFTs?

NFTs has introduced the art, gaming and investment industry to the digital world of cryptos. NFTs have become popular and ruled the crypto community throughout the 2021. But it has not been able to sustain its position for a long time. NFTs have seen a downfall in the year 2022. According to Chainalysis, NFTs registered $25 billion in sales in 2021. On the contrary, NFT sales came in at just over $1 billion in June 2022 and has been declining since then. But blue-chip NFTs have emerged as a hope to the community. These have witnessed stable growth in financial value over a period and has been favourite of all.The CryptoPunks and the Bored Ape were the most talked about NFTs that year. Famous celebrities Jay-Z and Jason Derulo purchased CryptoPunk NFTs. On the other hand, Neman Jr. and DJ Khaled own Bored Ape.

In response to declining NFT prices, many platforms and companies have been rolling out NFT-related solutions. Last month, MetaMask Institutional announced custodial services offerings for institutional-level clients.

In such a situation, putting a bait on blue-chip NFTs is an easy chance one can take at the time when the NFT market is declining.

About the Blue-chip NFTs

Blue-chip NFTs are basically those projects that have proved to be stable and demostrated high market value at the time when the other NFTs are drowning. Big giants like Apple, Coca-Cola, and Disney have invested in these. This is because the blue-chip NFT collections have a long-term value proposition. Let us talk about a few renowned blue-chip NFT projects.

Bored Ape Yacht Club (BAYC)
Bored Ape NFTs have been alive for a long time and have generated investment interest. It is built on the Ethereum blockchain and has drawn the attention of many celebrities and artists like Justin Bieber and Jimmy Fallon. It features a bored-looking ape with a combination of accessories. In August this year, it climbed above CryptoPunks to become the second-largest NFT by all-time volume with more than $2.3 billion making Bored Ape one of the most expensive collection.

CryptoPunks] is another NFT project based on the popular Ethereum blockchain launched by Larva Labs. This marketplace allows people to buy, offer, and sell punks. It showcases 10,000 unique characters on its platform. In September this year, CryptoPunk’s NFT #2924 was sold for nearly $4.5 million worth of ETH. There are only nine aliens and 24 apes in the CryptoPunks and this was one of them.

CloneX was recently launched in 2021 and gained popularity in the Web3 community. Clone X is a collaboration between design studio RTFKT and Japanese contemporary artist Takashi Murakami. The collection consist of 20,000 3D avatars NFTs called 'Clones.' In 2022, CloneX #4594 was sold for a massive 450 ETH on OpenSea that is nearly $600,000.

Despite the fall of NFTs in the market, blue-chip NFTs have maintained their stability and price.


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