NFTX (NFTX)

NFTX (NFTX)

Rank #752

$15.9

0.09%

0.0008 BTC

NFTX
USD

MARKET CAP

$9.643M

ALL TIME HIGH

$486.83

VOLUME 24H

$19.175K

CIRC. SUPPLY

606.672K

VOL/MCAP

0.00%

TOTAL SUPPLY

650K

DILUTED MCAP

$10.332M

MAX SUPPLY

--

1H USD

0%

24H USD

0.09%

7D USD

26.91%

30D USD

17.36%

60D USD

17.3%

90D USD

0%

Tag:

collectibles-nftsdeficoinfund-portfolioView all

NFTX Price Chart

24h Change

0.09 %

NFTX - NFTX Profiles

What is NFTX?

NFTX is a platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs).

Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault

Benefits include:

  • LP and stake minted vTokens to earn yield rewards
  • Better distribution and price discovery for NFT projects
  • Instantly sell any NFT by minting it as an ERC20 and swapping via Sushiswap
  • Increased liquidity for NFT investors and speculators

How does it work?

Vault Creation

Vault Creation Vaults can be created by anyone for any NFT asset on Ethereum. Once a vault has been created, any user can then deposit eligible NFTs into the vault to mint a fungible NFT-backed token referred to as an "vToken"

Mining vTokens

Anyone can deposit NFTs into an existing vault (or one they have created) in order to mint a fungible vToken that represents a 1:1 claim on a random NFT from within the vault

Floor Prices

Floor Prices Users can then pool their minted vTokens in Automated Market Makers (AMMs) like Sushiswap to create a liquid market for other users to trade. With liquidity and trading volume established, the NFT-backed vToken enters into price discovery and a "floor price" is discovered.

The floor price represents the lowest price for a particular NFT. Users establish a floor price by minting and selling vTokens in markets where they consider their NFT to be overvalued

For example, a user has 5 Hashmasks and values ​​2 of them highly. However, they consider the other 3 Hashmasks to be lower value than the market price for the Mask vault on Sushiswap. The user deposits 3 Hashmasks and sells their 3 minted MASK tokens on Sushiswap, discovering these lowering its price and aiding price. 

The above process will continue until a floor price is achieved

Eligibilities

The Mask vault allows any Hashmask to be successful, however other vaults use an eligible list that only allows a specific sub-category of NFTs to be appropriate. For example, the Kitty Gen 0 vault has an eligible list that includes only Kitties whose metadata is Generation 0. Other Kitties can not be integrated into this vault

Who Benefits From NFTX?

Collectors

NFTs in their basic form do not earn yield. However, when they are used to mint vTokens they can tap into the world of decentralized finance. Put simply, collectors can use NFTX to unlock more value from their NFTs:

  • Earn protocol fees
  • Earn trading fees as a liquidity provider
  • Farm with stablecoins using vTokens as loan collateral

Content Creators

By launching on the NFTX protocol, content creators are able to earn protocol fees in perpetuity whilst also improving the reach and fairness of distribution:

  • Earn protocol fees
  • Distribute NFTs via an AMM in the form of vTokens
  • Create instant liquid markets for new content

Investors

NFTs are typically highly illiquid and difficult to price. NFTX makes speculating and investing in the NFT market a far simpler process:

  • Access the most liquid markets for NFTs
  • Track the price of particular categories of NFT

Read full Article: CLICK HERE 

People

We found 1 people related to nftx-nftx, include CEO - Founder Alex Gausman

Organizations

We found 1 organizations related to NFTX has NFTX

NFTX Price Live Data

NFTX Price

$15.9

Trading Volume

$19,175.43

All Time High

$486.83

1hour Change

-0.67%

24hours Change

0.09%

24hours Range

0.09%

24hours Low

$132.60

24hours High

$146.91

Liquidity ±2%

$839,721.00

Bids -2%

$839.00

Asks +2%

$721.00

Market Cap

$9.64 M

Fully Diluted Market Cap

10.33 M

Circulating Supply

606672.13

Total Supply

650000.00

Max Supply

0.00

NFTX Markets

See All Market
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