Europe’s largest asset manager Amundi to invest in NFTs ๐จ This article is 3 years old...
Europe’s largest asset manager Amundi to invest in NFTs
France's Amundi believes NFTs have some merits as an investable asset and is considering giving its clients ways to tap into the market.
2 min read
Updated: Feb. 17, 2022 at 5:51 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
France-based Amundi is considering entering the NFT market and offering its clients the ability to invest in them, according to a yet-to-published report seen by Financial News.
โUltimately, we cannot rule out that NFTs will also become investable assets.โ
Amundi, which is currently Europe’s largest asset manager with over $2 trillion in assets under management, said in the report.
The firm has yet to finalize how it will dive into the NFT space but is considering multiple avenues.
โWe are thinking if there is a way to invest thematically in companies that are involved in this space.โ
Amundi’s chief investment officer Vincent Mortier told the newspaper. He added that the asset manager was also considering the option of a dedicated fund that would invest in NFTs.
Why NFTs?
The NFT market has been booming since last year, generating more than $23 billion in trading volume during 2021, according to a DappRadar industry report.
Amundi’s Mortier told FN that digital art and collectibles were the most promising area in the NFT space.
โSome artists are doing artwork only for the NFT market. This section of the market has some legs and is investible.โ
he said, adding that they were easier to store and trackable, which gave them “some merits.”
Digital art in the form of NFTs have sold for millions of dollars in recent months and have become part of the zeitgeist. In January 2022 alone, the NFT market generated more than $7 billion in trading volume and is well on its way to setting another record-breaking year.
Canadian business mogul Kevin O’Leary, of SharkTank fame, believes the NFT market could become a “bigger, more fluid market” than bitcoin.
Coinbase CEO Brian Armstrong is also bullish on NFTs, having said in 2021 that the market could rival the company’s crypto business.
Amundi still averse to crypto
Mortier told the newspaper that the firm’s stance on crypto remains the same and its interest in the NFT marketplace has not changed that.
โOn crypto, our views have not evolved. It is too speculative and there are a lot of question marks around it.โ
Amundi has historically had a conservative view toward cryptocurrencies and decentralized finance. The asset manager has warned its clients against investing in crypto and previously called it “an asset without intrinsic value.”
Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
