The popularity of non-fungible tokens (NFTs) has broken into the mainstream world with Bored Ape Yacht Club NFTs being one of the most popular in the market.
A Goldman Sachs worker announced that they bought an Ape for around $280K or 110 Ethereum (ETH) and said that the company is "aware of this new asset class."
PayPal's Previous Thoughts on Cryptocurrency
Though cryptocurrency has been seen as a scam by some people a few years back, the platform nowadays has adjusted to the new breed of economics. Bill Harris, who is the founding CEO of PayPal, even referred to cryptocurrency basically a "pump-and-dump scheme" and warned people to be careful while calling it "gambling," according to a report by Investopedia.
It may be rather difficult to imagine that big companies and institutions have now slowly adopted cryptocurrency as of now, but it is even more so when it is NFTs being talked about.
With a lot of conventional institutions still understanding how cryptocurrencies work, some NFT collectibles such as the Bored Ape Yacht Club's collection have increased massively in value.
Goldman Sachs Worker Buys Bored Apes NFT for 110 ETH
A certain Twitter account called @Brownmgold announced that they bought an Ape for 110 ETH. The announcement was paired with the statement that "we at Goldman Sachs are aware of this new asset class and are closely monitoring it."
According to the company's website, Goldman Sachs is a "leading global investment banking, securities and investment management firm" that operates by provides a wide range of services for their large number of clients.
No Official Confirmation on Goldman Sachs' Stance on NFTs
According to the website, Goldman Sachs count corporations, governments, and financial institutions among their clients.
As of press time, it has not yet been confirmed if the purchase of the Bored Ape NFT was an official move by Goldman Sachs or if it is a personal purchase by the employee.
Per the account, its description notes that it is a personal account and that the owner is "working with Goldman Sachs. The Twitter account's bio has also noted that the opinions shared on the it "are my own."
Read Also: OpenSea Vulnerability Exploited With Profits Close to 150 ETH or Over $2.4K USD
What is Goldman Sachs' Stand on Cryptocurrency and Blockchain?
According to an article by NFTEvening, Goldman Sachs has already discussed what the company thinks of the blockchain technology.
The firm has noted that the technology can "uniquely identify any virtual object independent of central authority." Goldman Sachs ahs also said that the tech allows for the "partial elimination of centralized control."
The article has also noted that Goldman Sachs has likewise already invested in different crypto startups, pouring in millions of dollars with the goal of offering "trading options in Ethereum."
When it comes to NFTs, however, an official statement has to be released in order to confirm if they are truly looking into the market.
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This article is owned by Tech Times
Written by Urian B.
