Metalith, a provider of research and tools for non-fungible token (NFT) markets, announced the launch of the first-ever NFT index on Wednesday.
According to the announcement, the Metalix LAND Price Index tracks the value of Decentraland LAND, providing sales medians over weekly, monthly and quarterly time frames since the launch of the Decentraland marketplace in March 2018.
“Areas in Decentraland have been divided into Zones to provide greater insight into the local performance of LAND,” stated the Metalith team.
Interestingly, this zoning technique has shown stark differences in the value retention across various locations in Decentraland. For instance, one zone is down 40% since the launch of the marketplace while another is only down around 1%.
Metalith notes that it is continuing to explore index theory to find models that fit these unique assets that contribute to both utility and speculation.
With the launch of the index, Metalith also revealed that it has received a seed investment from Metaverse Ventures, the venture capital firm started by Digital Currency Group to invest exclusively in companies building products and services in Decentraland.
“Metalith is building some of the most critical tools to help users and LAND investors to engage with the Decentraland ecosystem, and they also have a big opportunity to become a leading data provider for the NFT space,” said Travis Scher, VP of investments at Digital Currency Group. “We’re excited to support them.”
Metalith plans to launch more indices for LAND and other NFTs, which can be leveraged by everyone from stakeholders to traders.
More: Metalith Launches First-Ever NFT Index
Related: Decentraland (MANA) Is Giving Away $50K in Prizes in Its December Creator Contest
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
