Sirwin
Sirwin
Virtual Thoughts

The Unique World of NFTs v3✨


The Nasdaq of NFTs, How You Can Have Your Cake🎂 & Eat It Too!

  As the NFT market continues to explode in 2021, a natural occurrence has taken place.

  NFT DAOs are emerging in light of the inevitable billions or possibly trillions of dollars in volume. Serving as the New York Stock Exchange 2.0, newly discovered market indexes are slowly being launched (to date 3 or 4 contain deep liquidity pools) 

  CryptoPunks gives me back that 80's ATARI feel, forever reminiscing about Donkey Kong, the Punks are one of the first NFTs ever created.

 

would be something I couldn’t afford to buy on my own, but love the art enough to want a share. So how can I still enjoy a piece of this valuable asset? CryptoPunks were made as a fixed set of 10,000, launched by Larvalabs in mid-2017, and became one of the inspirations for the ERC-721 standard.

 

 "How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case." Robert G Allen

 

  The problem is there isn’t much public exposure to NFT DAOs or NFT index funds for that matter. Quite honestly to purchase NFTs, you can buy them via WAX Cloud Wallet , but what if you could invest in portions of the rarest NFTs? They would be vetted by professionals to ensure authenticity and give a return on investment (ROI) as if it were crypto or traditional stocks.

  Given a scenario with the above mentioned, would you invest? 

(leave your educated answer in the comments section

  Available to the public,  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 off your favorite collectibles.

 

  There are two types of funds on NFTX:

  • D1 funds (input) have a 1:1 backing between a single NFT contract and an ERC20 contract. For example, if Alice owns 2 PUNK-ZOMBIE, that means she can redeem exactly two random zombie CryptoPunks at any moment. Another example would be Alice owning 1 AXIE-MYSTIC-2, giving her the ability to redeem one random Axie with two Mystic parts.
  • D2 funds (top-level) are Balancer pools which combine D1 funds. For example, AVASTR will be a D2 fund which combines three different D1 Avastar input funds (AVASTR-BASIC, AVASTR-RANK-30 & AVASTR-RANK-60). The point of this is to offer more diverse exposure without requiring users to hold multiple tokens.

  When a new fund is created, the account which sends the transaction is designated as the fund manager. This allows the creator to change fund parameters like fees, supplier incentives, and NFT eligibility. When the creator is done modifying the fund they can then “finalize” it which gives up their control to increase trustlessness.

 

 

  The above mentioned are the NFTX target users—the people trading top-level funds of NFT blue-chips such as AXIE, PUNK & KITTY on Uniswap. Most of the time the only people minting/redeeming fund tokens will be arbitrageurs. This is similar to the dynamic with Wrapped Bitcoin(WBTC). Meaning, most people that trade in Wrapped coin protocols such as WBTC, do not mint and burn it themselves.

 

  NFTX will start out with just D1 funds, so at first the homepage will have quite specific funds listed, however once the top-level D2 funds are created then the homepage can shift focus to those funds instead. The idea is for NFTX to be somewhat like a CoinMarketCap or DefiPulse style website but for the NFT space. Users will arrive at the homepage and be greeted with metrics for top-level funds backed by NFT blue-chips such as CryptoPunks, Axies, CryptoKitties, and Avastars

  Eventually, the hope is for NFTX to become home to over a hundred top-level NFT funds, each of which will feature real-time price, volume and total value locked(TVL) data.For more in-depth information on NFTX (click here for NFTX docs)

  For the private sector I introduce to you Flamingo, the first DAO incubated and formulated by The LAO community. Flamingo will support the expanding NFT metaverse, applying the hive mind approach. FlamingoDAO is responsible for the January 2021 ATH sale of an ultra rare NFT, spending  605 Ethereum(ETH) ( or $761,889 usd at purchase) on the CryptoPunk #6089 Alien Punk.

 

 

  This won’t be the last time we hear an NFT sold for an astronomical amount and I will guess it will be another CryptoPunk. So please join me and my colleagues on this journey down the rabbit hole that is the NFT Metaverse. 

  The Unique World of NFT spotlight series will be full of surprises and special guest writers from the Cryptowriter community stay tuned for v4 by …

 

(SOURCE: Vimeo)

 

   For entertainment purposes only 

  • Disclaimer - The views, thoughts, and opinions expressed here are the author’s alone and do not reflect or represent the views and opinions of Cryptowriter or Voice.

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 —Octavio Nares


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Tavio_Cryptowriter
Tavio_Cryptowriter

Loving Father; Genuine passion for Blockchain & Digital Asset with 10+yrs. experience. Striving to teach Minorities the incredible potential blockchain tech has and "The Internet of Value."


tavio_cryptowriter
tavio_cryptowriter

In 2008 I stumbled upon the most amazing discovery, a peer-to-peer payments system called Bitcoin. Since that day, I have dedicated my time teaching other Minorities the incredible potential blockchain technology has to offer. Readers can expect compelling articles that expand their knowledge covering; NFTs, DEFI, IOT, and in Q2 2021 the launch of The Rabbit Hole will commence( Special Guests, NFT sets, Giveaways, and more..). From now until the release we will keep track of comments leave NFT address

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