Defiance ETF, a thematic ETF based in New York, has launched a first-of-its-kind ETF focused on Non-Fungible Tokens (NFT) to help boost the ecosystem while exposing new investors to the technology.
The ETF, which will go by the ticker $NFTZ, will also include thematic exposure to blockchain and cryptocurrency, including platforms such as Coinbase, Playboy, DraftKings, SBI, and more. Sylvia Jablonski, Co-founder and Chief Investment Officer of Defiance ETFs, expressed her belief that “NFTs could be bigger than the internet” at a time when new personalities and organizations have started harvesting the technology.
Tracking the total revenue generated by NFTs can be an impossible challenge due to how many marketplaces and diverse projects exist. However, most sites agree it is somewhere between $12 and $16 billion. According to NonFungible, NFTs have generated over $12. billion in total sales over the past 4 years, with about $12 billion being generated over the past year alone.
This exponential growth over the past months has been the result of some of the most important brands introducing NFTs in their marketing strategies. Some companies that have recently done so include AMC theatres and Sony Pictures with their “Spiderman: No Way Home” NFT promotion, Hasbro, Dolphin Entertainment, Mattel, Funko Pop, McDonald’s, and many more.
The increasing popularity of NFTs has also played an essential role in the startup ecosystem as blockchain startups like MetaMundo, OlySports, Altura NFT, and many others launch their own projects with the support of important investors. This increasing interest has proven to be greater when it comes to the use of NFTs in gaming and possible applications in the upcoming metaverse.
With $NFTZ, Defiance ETF will capitalize on this success while also helping artists, athletes, creators, and developers, supporting their efforts by bringing new funding to the ecosystem and educating investors on the ins and outs of the technology.