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The chance for 2021? The first "ETF" for digital collectibles (NFT)

The chance for 2021? The first "ETF" for digital collectibles (NFT)

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Non-fungible tokens are considered by experts to be one of the most promising investment opportunities for the year 2021. A new "index fund" wants to make it possible to invest in NFTs on a diversified basis with immediate effect.

The NFT space is growing rapidly. NFTs now display art, collectibles, tickets, game items, domain names, proof of ownership for items from the real world, and much more. However, it is currently still very difficult to find out which non-fungible tokens are suitable as an investment. It should also be noted that NFTs are difficult to evaluate and are still extremely illiquid. A new platform, called NFTX, wants to solve this problem with an "ETF" token that is supposed to map the sector.

NFTX (NFTX) is a platform on which Ethereum tokens can be created that are deposited with NFTs. These tokens are known as funds and can be combined as desired. For example, you can map NFT from CryptoPunks, Axies, CryptoKitties and Avastar and trade directly on the decentralized crypto exchange UniSwap. NFTX is currently the best-known NFT ETF token, which is composed of various NFTs. In addition, NFTX serves as a governance token, which gives holders the right to determine the future direction of the NFTX platform. Through NFTX, non-fungible tokens could finally make the breakthrough in the decentralized finance (DeFi) sector. Since NFTX is an ERC-20 token, it can theoretically interact with all DeFi projects and, for example, be deposited as a reserve for DeFi loans.

What is the NFTX token and who is it for?

NFTX has been tradable on UniSwap since January 5, 2021 and the price of the token is at $ 23.45 at press time. NFTX is not a project for collectors who want to invest in individual NFTs. The NFTX token is more suitable for people who believe in the entire NFT space, but do not have the time and knowledge to deal with the individual NFTs. That is why there is the NFTX token, which wants to be the "CoinMarketCap" of the NFT sector.

It is made up of various NFTs that are constantly being adapted. The index currently consists of 16 NFTs. These include NFT from CryptoKitties, CryptoPunks, Axies, Glyphs, Joys, and Avastrx.

Source: nftx.org

In the future, there will be other funds that cover certain niches in the NFT sector. NFTX is therefore suitable for investors who want to have a relatively broad diversification in the non-fungible token sector with minimal effort. The project offers an alternative to the otherwise very time-consuming work associated with researching, purchasing, and managing NFTs. Because of this, NFTX could perhaps be a good option for investors to take part in the growth of the emerging sector.

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