NFT index token launched by Cryptex Finance

NFT

Cross-chain DeFi supplier Cryptex Finance in the present day will launch its JPEGz token, an index token based mostly in the marketplace capitalization of among the hottest NFT collections, the corporate mentioned.

The index contains 10 notable NFT collections together with Yuga Labs’ Bored Ape Yacht Membership and CryptoPunks, and others corresponding to CloneX, Cool Cats, Doodles, Vee Pals and World of Ladies, Cryptex mentioned.

The token might be instantly accessible on the Cryptex Finance decentralized utility, and could also be swapped throughout Uniswap and Slingshot through the Layer 2 scaling community Arbitrum, Cryptex added.

Every assortment’s ground costs are fed into the index through Chainlink’s NFT Flooring Value Feeds oracle structure that includes Coinbase Cloud’s aggregation algorithm.

“For the primary time, customers can mint value publicity to trace 10 standard NFT collections utilizing ETH or DAI with out the necessity to maintain the underlying NFT’s themselves,” mentioned Cryptex Finance co-founder Joe Sticco.

Cryptex Finance launched its TCAP token, an index token based mostly on over 2,000 cryptocurrencies, in 2021.