Coming soon: NFTs backed by life settlements?

Sundance Strategies , a Utah-based company operating in the space of life settlements, is planning to launch NFTs (non-fungible tokens) backed by life settlements, which refers to the sale of an existing insurance policy to a third party for a one-time cash payment.

According to the press release, the “real-world assets” backing the NFTs will be up to $500 million, investment grade rated life insurance-linked bonds, which will be backed by around $850 million of life insurance policies, and around $115 million of cash reserves.

This asset is expected to produce cash flow and net returns to the NFT holder.

This NFT drop is the first step in Sundance Strategies’ plan to use blockchain technology in partnership with blockchain fintech organization Tradability.

“In executing its first-to-market strategy for a pipeline of NFT projects backed by real-world assets, Tradability is pleased to partner with Sundance Strategies, to launch innovative insurance products designed to leverage blockchain technology.” – Amadou Diallo, Tradability CEO (no Linkedin profile?).

“In light of the significant volatility in the stock and crypto markets, investors are looking for a safe investment with good, investment grade rated yields. Sundance has teamed up with Tradability to bring to the market the perfect NFT, backed by non-correlated life settlements. This asset class is one of a very few, which is truly detached from the stock, crypto, real estate market, precious metals, as well as commodity markets. Thus, the buyers and holders of these new NFTs, add real stability to their crypto portfolio, in a highly volatile market.” – Kraig Higginson, Executive Chairman of Sundance Strategies (LinkedIn).

Bottom Line: Our latest competitive intelligence report highlights a leading insurer showing interest in blockchain and NFTs and our most recent insights report describes the move from web1 to web3 in plain English, as well as covers which insurers have launched blockchain initiatives.