In a significant development for the digital asset market, Kraken Institutional has partnered with Upshot to enhance the valuation of illiquid digital assets, including NFTs. This collaboration seeks to tackle the complexities institutions encounter when assessing the value of assets that lack the liquidity of major cryptocurrencies, as highlighted by the findings in the material.
Integration of Upshot's Valuation Tools
The integration of Upshot's valuation tools is expected to provide institutions with improved reporting capabilities, better collateral management, and enhanced risk controls. These advancements are crucial for funds, lenders, and custodians who are increasingly dealing with illiquid assets that do not trade on traditional exchanges like Bitcoin and Ethereum.
Addressing Valuation Challenges
By addressing the valuation challenges associated with NFTs and other digital assets, Kraken Institutional and Upshot aim to create a more robust framework for institutional investors. This partnership not only highlights the growing importance of NFTs in the financial landscape but also underscores the need for reliable valuation methods in a rapidly evolving market.
In a notable contrast to Kraken Institutional's recent partnership with Upshot for NFT valuation, Yuga Labs previously executed a successful operation to recover 68 blue-chip NFTs from an exploit. For more details, see read more.
