Goldman Sachs said it is examining non-fungible tokens (NFTs) and particularly the "tokenization of real assets," as the investment bank dives deeper into the crypto space.
The metaverse where real world assets like real estate are bought and sold as NFTs has been garnering the attention of big names in financial services and a range of other industries.
"We are actually exploring NFTs in the context of financial instruments, and actually there the power is actually quite powerful. So we work on a number of things," Mathew McDermott, global head of digital assets at Goldman Sachs, said at the Financial Times Crypto and Digital Assets Summit on Wednesday.
The bank has dived into crypto. It started offering bitcoin derivatives to investors in 2021 and conducted its first over the counter crypto trade with the digital-asset financial company Galaxy Digital in March this year.