Try Quests to earn crypto> NFTX is a platform for making ERC20 tokens that are backed by NFT collectibles. These tokens are called vault tokens, and (like all ERC20s) they are fungible and composable.
On NFTX, vault tokens can be redeemed for either a random or a targeted NFT from the vault.
For example, someone could purchase a single vault PUNK token on Sushiswap, and use that token to claim a random CryptoPunk from the PUNK Vault.
For an additional fee, usually 5%, the user can select a specific NFT from the vault.
Source: docs.nftx.io/tutorials/redeeming
These are the highest selling projects on the platform based on total sales in the last 60 days.
The y-axis counts individual redemptions grouped by NFT project. On this platform, NFTs are sold by redeeming the projects vault token. Redemptions and sales are the same thing.
Milady is trending on NFTX.
In the last 60 days this project has generated over 3.3M USD in sales volume on NFTX. During that same period, Milady has seen close to 2,000 individual redemptions (sales) on the platform.
This time we look at the highest grossing project on the platform. Again we use data from the last 60 days.
The y-axis measures aggregate sales volumes per project (in USD).
Milady NFTs on NFTX
Popular collections on NFTX
NFTX offers innovative features to NFT collectors. Users can monetize their NFTs by storing them on the platform in exchange for vault tokens. The vault tokens can generate revenue on AMMs like Sushiswap.
Users can also use the platform to invest in fractions of NFTs. If a person can't afford a Bored Ape, maybe they can buy 0.1 BAYC vault tokens. This would give them market exposure to one tenth of a Bored Ape. Buying fractional tokens is a good way to invest in expensive NFT projects.
Check it out yourself at nftx.io