Tiger Global, an investment management company, has reportedly marked down stakes in popular nonfungible token (NFT) projects such as Bored Ape Yacht Club (BAYC) collection and NFT marketplace OpenSea by 69% and 94% respectively. The investment firm has previously been active in the crypto space by participating in funding rounds for blockchain security firms, zero-knowledge applications platforms and layer-2 networks. In November, Coatue Management, OpenSea’s co-lead investor, marked down its investment in the NFT marketplace by 90%. These markdowns in the NFT space could indicate that investors feel that such projects have become overvalued in recent months, however these investments suggest companies are not shying away from blockchain technology. It is likely that a renewed focus is being put on investments in DeFi, security, and the development of privacy projects.



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