- Sygnum Bank has tokenized blue-chip NFT CryptoPunk #6808 using its Desygnate primary market issuance platform
- From January 2022, CP6808 tradeable asset tokens will be available exclusively to Sygnum clients for co-ownership on SygnEx, Sygnum’s secondary market
- Represents the first step towards embracing the emerging NFT market and Web 3.0 experiences into Sygnum’s vision for Future Finance
CryptoPunk – the “Picasso” of the NFT world
In 2017, Larva Labs generated 10,000 CryptoPunks using a computer algorithm, gifting each with a unique personality and randomly generated features inspired by the 70’s London Punk scene. The launch of these CryptoPunks kick-started the exponential growth of today’s USD 27B global market for NFTs and crypto-collectibles.
A CryptoPunk is an NFT (Non Fungible Token), a unique digital asset on the blockchain with verifiable and immutable proof of ownership. CryptoPunk #6808 is one of only 38% females and has several rare features including dark hair (2%) and a VR Headset (3%). NFTs are the most pure manifestation of the unique value blockchain delivers; digital scarcity, the ability to trade originals, not copies, and the means to prove this uniqueness and value at scale.
“Here at Sygnum, we think of ourselves as an innovative tech-company that has its own bank. In the same way, our CryptoPunk also has a dual identity; it has its place in blockchain history – and also is an innovation that’s shaping the future direction of finance – and perhaps of social networks and culture”, addsMathias Imbach, Sygnum’s Co-Founder and Group CEO.
Investing in NFTs and Web 3.0
NFTs are a core component of the Web 3.0 internet evolution, which imagines a series of interconnected 3D virtual “metaverses” where everyone, everywhere can socialise, shop, game and work. These have the potential to usher in substantial new blockchain-based economies linking both virtual and physical worlds.
At times, this pace of innovation is accompanied by exaggeration, exuberance and hype. Some of the activity we have seen in this space in 2021 certainly falls into this category. However, at Sygnum, we have been following the fast-moving NFT ecosystem for some time, and have looked past the noise to invest in scalable infrastructure and use-cases that will help make this exciting vision of Future Finance a reality. Fractionalising the ownership of CryptoPunk #6808 and trading it on the SygnEX secondary market is just the first step.
We invite you to visit and meet the only CryptoPunk with her own bank, on permanent display in both our Zurich and Singapore offices, and learn more about our exciting NFT-related products for 2022 and beyond.
This document is purely for educational purposes and has been issued by Sygnum Group. It is not intended for distribution, publication, or use in any jurisdiction where such distribution, publication, or use would be unlawful, nor is it aimed at any person or entity to whom it would be unlawful to address such a marketing communication. It does not constitute an offer or a recommendation to subscribe, purchase, sell or hold any security or financial instrument. It contains the opinions of Sygnum Group, as at the date of issue. These opinions and the information contained herein do not take into account an individual‘s specific circumstances, objectives, or needs. No representation is made that any investment or strategy is suitable or appropriate to individual circumstances or that any investment or strategy constitutes personalized investment advice to any investor. Therefore, you must verify the above and all other information provided in the document or otherwise review it with your external advisors. Some investment products and services, including custody, may be subject to legal restrictions or may not be available worldwide on an unrestricted basis. The information and analysis contained herein are based on sources considered as reliable. Sygnum Group uses its best efforts to ensure the timeliness, accuracy, and comprehensiveness of the information contained in this document. Nevertheless, all information indicated herein may change without notice.
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