• Credit Suisse is collaborating with the Swiss Football Association to release a NFT collection.
• The entire Azuki Elementals NFT collection was sold via private transactions in just 15 minutes, sparking criticism and market slump.
• Holders were concerned that releasing 20,000 new NFTs would dilute the value of pre-existing NFTs in the collection.
Credit Suisse Collaborates with Swiss Football Association for NFT Collection
Swiss investment bank Credit Suisse has announced its collaboration with the Swiss Football Association to release a non-fungible token (NFT) collection supporting women’s football. The 756 NFTs, minted on Ethereum [ETH], will be available for purchase on Credit Suisse’s digital banking app, beginning 11 July. All proceeds from this sale will go towards supporting female football players as well as other organizations working to empower them.
Azuki Elementals Collection Sparks Market Slump
Last week saw the launch of the Azuki Elementals NFT collection which led to floor prices of multiple leading NFT collections slumping and a substantial number of liquidations taking place. This episode sparked significant criticism, with complaints ranging from the short presale window to mint failures due to an overloaded website. Holders were also concerned that releasing 20,000 new NFTs would dilute the value of pre-existing NFTs in the collection, resulting in high volatility and high turnover on loans due to 500 active auctions and 500 liquidations on Blend in 10 days according to Parsec Finance’s report on 30 June.
Impact On Pre-Existing Collections
The impact of launching such a large amount of new tokens into an already saturated market can have drastic implications for pre-existing collections as their values may diminish or increase depending on how buyers respond to them. As such it is important for holders of these collections to remain vigilant about any changes happening within their respective markets so they can make informed decisions about investing or selling off their assets if necessary.
How To Avoid Volatility
In order to avoid volatility when investing in crypto assets such as non-fungible tokens, investors should diversify their portfolios by including both traditional investments like stocks or bonds alongside more risky crypto assets like Ethereum or Bitcoin (BTC). Additionally, it is important to stay up-to-date on news related to different industries and markets in order keep track of any potential risks that may affect one’s investments over time.
Overall, while there are potential risks associated with investing in crypto assets such as non-fungible tokens (NFT), having a diverse portfolio and staying up-to date with industry news can help ensure that investors are making informed decisions when it comes time buy or sell different types of assets.