A major stamp of approval emerged this week with the launch of the VanEck Community NFT by US fund manager VanEck. Already a big player in digital asset trading, VanEck said the new Community NFT will be distributed to 1,000 holders who want early access to research, be aware of specific investment opportunities, and who also want to participate in real and virtual events and experiences that the company will sponsor in the future.
VanEck said that while NFTs are most widely associated with the art world, they are now used to symbolize a wide range of assets, including gambling assets to win, real estate and collectibles. The pre-revelation NFT was deposited into participants’ crypto wallets on Monday and includes a story related to VanEck’s character Hammy, a fictionalized portrayal of Alexander Hamilton.
“If NFTs are digital property rights, then the VanEck NFT Community is essentially a digital membership card providing exclusive access to an inclusive community of like-minded investors and crypto enthusiasts,” explained Matthew BartlettInside Sales Manager at VanEck.
The launch of the VanEck Community NFT revolves around a series of promotional video releases. “These videos will tell the fictional story of ‘Hammy’ as he explores the past, present and future of monetary policy and meets new friends who help him on his missions,” Bartlett said. “The first release of NFTs will come in the form of stills from Hammy’s saga with a unique future 3D avatar. VanEck community NFTs will live on the Ethereum blockchain.
Towards the end of May, each NFT will turn into its final version, the fund manager said. These will be high quality avatars built with Unreal Engine 5, currently the highest quality rendering tool on the market. Each avatar will have traits that may be rare and will qualify its holder for exclusive access to events and opportunities.
First NFT offered by a global asset manager
“This is the first NFT to be offered by a global asset manager, and I believe it’s a big step forward in educating the general public about the real utility inherent in the NFT structure,” said Marcus Sotiriouanalyst at GlobalBlock, the digital asset broker.
A frame to WisdomTree, an asset management firm with $78 billion under management, added that “cryptocurrencies have firmly established themselves as a new asset class and it’s really something people can’t ignore.” . The fact that major financial institutions like WisdomTree are also recommending risk-assessed allocations in the crypto space is a very optimistic sign for the industry.
This is a very important decision for VanEck; other fund managers will pay close attention to this launch, as it provided VanEck with first-mover advantage in the NFT space. The company obviously hopes this will help it gain a foothold in the emerging market of NFT buyers. The sums at stake in this market already seem large enough to attract the attention of asset managers with several tens of billions of assets under management.
There will be 1,000 VanEck NFTs in total split into three rarities: Common (750), Rare (230), and Legendary (small quantity). Legendary rarity NFTs will feature significant historical figures. The rarity of the NFT will determine the types of perks associated with it. Examples of NFT benefits include early access to VanEck thought leadership, lunch with Jan Van Eck, or exclusive access to the VanEck party at hot spots.
“Upon the reveal of the final PFP and the third promotional video, we will communicate with our NFT holders through periodic email communication, a web2 interface that they can check for updates , a specific VanEck Community NFT Twitter account and YouTube channel,” Bartlett said. “These materials will be used to share announcements and alphas related to utility and any potential future drops, and may include educational content and a means to gather community feedback for preferences regarding upcoming events.”
More information is available on VanEck’s dedicated NFT page.