NFTX (NFTX) price has increased today.
The price of NFTX (NFTX) is $14.80 today with a 24-hour trading volume of $31,969.58. This represents a 0.40% price increase in the last 24 hours and a 1.80% price increase in the past 7 days. With a circulating supply of 420 Thousand NFTX, NFTX is valued at a market cap of $6,222,944.
Where can I buy NFTX?
You may buy NFTX from exchanges such as Uniswap, Gate, Hotbit, and Sushiswap. You can find NFTX trading on various other centralized and decentralized cryptocurrency exchanges.
What is NFTX?
NFTX is a Non-Fungible Token (NFT) index funds protocol built on top of Ethereum.
There are two types of funds on NFTX - D1 and D2 funds.
Every D1 fund token has a 1:1 backing against an NFT. For example, if a user owns 2 PUNK-ZOMBIE, that means the user can redeem exactly two random zombie CryptoPunks at any moment.
Every D2 fund token is a Balancer pool's Liquidity Provider (LP) token that has exposure to several D1 funds’ token. PUNK is a D2 fund that combines five different D1 Punk funds (PUNK-ZOMBIE, PUNK-FEMALE, PUNK-BASIC, PUNK-ATTR-4, and PUNK-ATTR-5).
One of the biggest problems in the NFT space is price discovery due to rampant wash-trading and illiquidity between sales. Having real-time price feeds from popular funds may solve both of these issues.
For example, let’s assume that PUNK-ATTR-4 (Cryptopunk with four attributes) is 150% more expensive than PUNK-BASIC, and the PUNK-ZOMBIE is currently trading at 60 ETH. With this information, users can determine that a zombie CryptoPunk with four attributes should have an approximate price of 150% of 60 ETH, or roughly equal to 90 ETH. We expect more liquidity to flow into NFT markets as more NFT index funds launch.
Other features that the NFTX team expects to release in the future include NFT loans and randomized gift cards. There are currently no fees charged on NFTX.
Who are the target users of NFTX?
NFTX does not aim to serve the hardcore NFT collectors, as these collectors enjoy browsing and trading individual NFTs. Instead, NFTX seeks to serve investors that want exposure to the NFT market. Investing in an index allows investors that do not have time or expertise on NFTs to benefit from the rise in NFTs’ valuation.
With only the D1 funds to bootstrap Asset Under Management (AUM), a more diverse D2 fund is expected to be created to have a more diversified exposure to the NFT market. NFTX aims to be the go-to place for NFT investments. Users will arrive at the homepage and will be able to view metrics for top-level funds backed by NFT blue-chips such as CryptoPunks, Axies, CryptoKitties, Avastars, and Hashmasks.
How to become the NFTX’s funds Liquidity Provider?
Using Hashmasks Index Fund (MASK) as an example, users can supply one or multiple Hashmasks as collateral, which gives back index fund tokens called MASK. MASK tracks the ETH-floor price of all Hashmasks in the index fund.
The Hashmasks basic pool is set up to accept any Hashmasks and does not consider specific attributes of the NFT. Because of this, this index fund will organically become a fund that attracts the least valuable Hashmasks, often referred to as floor Hashmasks.
Redeeming collateral from an index pool will give users back random Hashmasks from the same index fund - there is no guarantee that users can get back the original deposited Hashmasks.
Where can you buy NFTX?
NFTX tokens can be traded on centralized crypto exchanges and decentralized exchanges. The most popular exchange to buy and trade NFTX is Gate.io, where the most active trading pair NFTX/ETH has a trading volume of $3,530.28 in the last 24 hours. Other popular options include Bilaxy and Sushiswap.
What is the daily trading volume of NFTX (NFTX)?
The trading volume of NFTX (NFTX) is $31,969.58 in the last 24 hours, representing a -6.40% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for NFTX (NFTX)?
The highest price paid for NFTX (NFTX) is $499.09, which was recorded on Feb 16, 2021 (over 2 years). Comparatively, the current price is -97.00% lower than the all-time high price.
What is the all-time low for NFTX (NFTX)?
The lowest price paid for NFTX (NFTX) is $11.64, which was recorded on Jan 01, 2023 (5 months). Comparatively, the current price is 26.90% higher than the all-time low price.
What is the market cap of NFTX (NFTX)?
Market capitalization of NFTX (NFTX) is $6,222,944 and is ranked #1139 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of NFTX tokens (420 Thousand tokens are tradable on the market today).
What is the fully diluted valuation of NFTX (NFTX)?
The fully diluted valuation (FDV) of NFTX (NFTX) is $9,630,747. This is a statistical representation of the maximum market cap, assuming the maximum number of 650 Thousand NFTX tokens are in circulation today. Depending on how the emission schedule of NFTX tokens are designed, it might take multiple years before FDV is realized.
How does the price performance of NFTX compare against its peers?
With a price increase of 1.80% in the last 7 days, NFTX (NFTX) is outperforming the global cryptocurrency market which is up 1.60%, while underperforming when compared to similar Ethereum Ecosystem cryptocurrencies which are up 12.70%.
What is the market sentiment of NFTX today?
The community is bullish as more than 100% of users are feeling good about NFTX (NFTX) today.
How to add NFTX (NFTX) to MetaMask?
Adding NFTX (NFTX) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import NFTX as a token. You can copy NFTX’s contract address (0x87d73e916d7057945c9bcd8cdd94e42a6f47f776) and import it manually, or if you've installed MetaMask's chrome extension, add NFTX to MetaMask with one click on CoinGecko.
Add NFTX to MetaMask.