Alternative investment startup Otis adds NFTs to possible venture options


Otis, a startup that allows individuals to purchase shares of valuable physical goods, has now added NFTs to its list of available items, according to a Thursday filing with the Securities and Exchange Commission. 

The new digital assets included in Otis’s collection include CryptoPunks #2142 purchased for $375,000, Meebits #12536 worth over $36,000 — cosigned by Otis CEO Michael Karnjanaprakorn, and Art Blocks #524 bought for $24,000. All of these and more can be seen on the "withOtis" digital wallet connected to OpenSea

“​​We believe the market for NFTs, and digital assets generally, will grow from household names entering the space and its accessibility and transparency through the blockchain. Additionally, the overall macroeconomic environment is favorable for high-performing digital asset classes, from cryptocurrencies like Bitcoin to NFTs,” wrote Otis in the SEC filing. 

The startup intends to become a “stock market for culture,” and includes not only digital assets but video games, sneakers, real estate, wine, precious metals, art, and other investment-grade commodities. “Our goal is to unlock every type of alternative asset and give investors true, uncorrelated diversification,” wrote Otis.

A platform like this already exists for NFTs called, but it appears Otis is seeking to offer NFT sharing options through the SEC's traditional regulatory framework. 

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Digital asset economy fuels instant settlements innovation

Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC