Codebase Ventures explores non-fungible token investments

Codebase Ventures Inc (CSE:CODE) (FSE:C5B)(OTCQB:BKLLF) said it is updating its blockchain ecosystem investment strategy as the company and its advisors actively explore non-fungible tokens (NFTs) to secure prime assets in the space. 

“After the sale of Beeple’s NFT fetching $65 million at auction earlier this month, the interest in non-fungible tokens has moved to the forefront as investors and speculators turn to blockchain-based NFTs as potential investment vehicles. With over $100 million worth of digital art and collectibles being sold on the open market in the past 30 days, NFTs are one the fastest growing areas of blockchain and blockchain-based assets,” the company said in a statement. 

READ: Codebase Ventures updates on the current bitcoin ecosystem and its bitcoin mining infrastructure

Codebase said as it navigates the developing world of NFTs, it will look to invest in the next generation of NFTs and the companies it believes will push the space forward.

The company also said it has engaged Digitonic Ltd. for $216,000 to provide investor awareness services over a two-month period.

“In any market experiencing explosive growth, there are always going to be pioneers pushing the space forward and those who are looking to profit, Code is the former, a pioneer with the expertise and strong network that is focused on the next generation use cases for NFTs,” Codebase advisor Jake Chernoff said in a statement.

“We’ll see NFTs emerge in non-conventional areas of our lives, with tokenizing of real-world assets and important documents on the blockchain being a few I believe, we’ll see sooner than later. In the long term, it is the real-world use cases that excite us most, and represent the areas we will focus our attention towards,” he added.

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Story by ProactiveInvestors