80%

NFTX is a platform for making ERC20 tokens that are backed by NFT collectibles. These tokens are called funds, and (like all ERC20s) they are fungible and composable. With NFTX, it is possible to create and trade funds based on your favorite collectibles such as CryptoPunks, Axies, CryptoKitties, and Avastars, right from Uniswap.

Users can 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. NFTs are typically highly illiquid and difficult to price. NFTX makes speculating and investing in the NFT market a far simpler process by providing access to the most liquid markets for NFTs and tracking the price of particular categories of NFT.

Did this answer your question?