What is the NFT index (NFTI): Price, Charts, and News Explained
First, Interest in NFT has risen in recent years because it is a profitable investment. Have you thought about what an NFT index fund represents? Why is it crucial to understand it if you’re a passionate NFT collector or investor?
For complete newbies, NFT refers to Non-Fungible Token, a digital asset that could refer to anything from a picture, music, or video to in-game items, tweets, GIFs, and even real estate. It’s been traded on the NFT market and stands for unique assets that couldn’t be replaced.
For that reason, they are called “Non-Fungible,” while physical money and cryptocurrencies are fungible, i.e., available to exchange and trade. An NFT market is a place where enthusiasts are able to purchase and sell different types of Non-Fungible tokens, finding different prices of NFT collections. It is open 24 hours a day.
But what is a Nonfungible Token market index? Is there any NFT index price that you should know about? Before we begin answering all of these questions, let’s learn more about the NFT index in general, shall we?
NFT Index – explained by a professional
NFT Index represents a particular index platform whose primary goal is to observe the interpretation of non-fungible tokens’ actions within the Nonfungible Token industry. The index is confirmative and operates on the famous TokenSets protocol. It’s also established on every token’s circulating supply and liquidity.
TokenSets refer to a vast DeFi integrated protocol in an all-encompassing platform empowering individuals to effectively handle their assets and actualize innovative crypto strategies utilizing cutting-edge trading and portfolio management instruments.
The Nonfungible Token Index ecosystem emphasizes the importance of liquidity within this domain, urging thoughtful consideration of portfolio allocation. Striving to pursue Nonfungible Token projects within the decentralized finance (DeFi) realm, the NFT Index network prioritizes those exemplifying unwavering dedication to continuous oversight and growth.
What is the native token of the NFT index?
The native token of the NFT index platform is the famous NFTI. The primary purpose of the NFTI token is to be in control of the NFT index ecosystem. Therefore, we also refer to this token as “GNFT.”
NFTI stands as a decentralized Index that derives its strength and influence from the holders of GNFT tokens. The GNFT token serves as a representation of the most trustworthy cryptocurrency index within the NFT sector. By utilizing the GNFT governance token, the NFTI network distributes revenue among its community members.
Also, half of the commissions from all projects contribute to the monthly redemption of the GNFT token. NFTI token holders can easily include their tokens in the index by swapping them using the decentralized TokenSets protocol.
Active holders receive GNFT tokens.
As part of the NFT Index incentive program, early and active holders receive GNFT tokens. These tokens are allocated as liquidity on a decentralized exchange (DEX). The more income token holders earn from the INDEXes, the more GNFT tokens they keep. By joining the community, token holders can enjoy profit shares.
NFTI Token Statistics
As of 19th of May 2023, the NFTI Token statistics look like this:
Max total supply: 654.284849933397937923 NFTI
Holders: 721 (0.00%)
Total transfers: 12,760
Price: $624.49 @ 0.345200 ETH
Fully diluted market cap: $408,592.98
Circulating supply market cap: $1,392,714.22
Should you invest in NFT Index funds?
The NFT Index incentive program operates like how traditional finance (TradFi) investors use. Since the NFT market has rapidly evolved and become highly competitive and popular, NFTI funds could be a profitable investment. The reason also is that this type of index fund enables a widespread and not-so-hard way for individuals to acquire exposure to the digital assets market.
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