$1.3T Asset Manager Exploring Use Cases for NFTs

December 15, 2022

By Sharan Kaur Phillora

Franklin Templeton world’s largest asset manager, is exploring the use cases for NFTs even when the sector’s performance is still volatile.

Here’s what we know:

Franklin Templeton, which had roughly $1.3 trillion in assets under management as of Oct. 31, has been moving deeper into the crypto space in recent months. The company issued its first NFTs to attendees of its first Innovation Forum held in September to showcase the digital assets ecosystem to its clients.

The attendees downloaded the NFT through the firm’s Benji Investments app, which acted as “a badge.” The clients could then use the token to access research reports from the Franklin Templeton digital assets team.

Mike Muir, Franklin Templeton’s head of digital assets technology, told Blockworks in an interview, “We see NFTs in their literal sense and more generally than just for their application with artwork or collectibles. In the long term, we are considering generalizing our issuance of NFTs for various purposes and are devoted to uncovering new applications for these assets.”

Dmitriy Berenzon, a research partner at early-stage venture fund 1kx, said, “It is not about permissioned blockchains that try to improve the efficiency of walled gardens, but rather about permissionless, crypto networks that drive human coordination at scale through the use of tokens.” 

But this isn’t the first time Frankin Templeton has been exploring the crypto market. In October this year, the company began offering two crypto-focused separately managed accounts (SMA) this quarter via a partnership with Eaglebrook Advisors, a crypto-centric investment management firm. The company seems to still be bullish on the opportunities and the efficiency that can come from blockchain technology and the platforms behind them.

About the author

Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.

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