NFTs are still riding a big wave in 2022. While the crypto community’s interest has been diverted by trendy concepts such as GameFi or Metaverse, interest in NFTs remains as high as ever, with the latest NFT drops attracting more and more attention.
The most expensive NFT ever sold was “The Merge”, for a whopping $91 Million, and it will only be a matter of time before that is surpassed, as the NFT popularity increases.
NFT Index Token is an innovative index-based ETF that tracks the performance of a specific package of assets that consist of multiple NFTs. MEXC will actually buy a NFT backing the value and then issue 100 pieces of this specific “NFT Index Token.”
For example, if a trader believes a certain NFT called MOON will go up to 50 ETH in a month, then the floor price of an NFT is almost $150,000.
Using NFT Index Token, the trader can spend around $1000 to buy $1000 nMOON (MOON Index-based token), and then withdraw the NFT and sell it on OpenSea or other NFT marketplaces.
Alternatively, traders can buy the dip when the price of this index-based token is undervalued relative to the actual corresponding NFT and sell the rally— that is how smart traders make a profit on this product.
NFT Index Token holders can also be airdropped when airdrops happen to the original NFTs, which means holders can acquire a certain amount of airdropped tokens when the asset pack receives airdrop from the project team.
The CMO of MEXC, Antonio Wu said of the product, “NFT Index Token product brings a new option for MEXC users to take a part in the NFT trading effortlessly and affordably. MEXC will continue to launch innovative asset and help users to find more Moonshot opportunities in the future.”
Stay tuned and check out more information about NFT Index Token at MEXC.