NFT index token launched by Cryptex Finance

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

The index includes 10 notable NFT collections together with Yuga Labs’ Bored Ape Yacht Membership and CryptoPunks, and others resembling CloneX, Cool Cats, Doodles, Vee Mates and World of Ladies, Cryptex stated.

The token will probably be instantly obtainable on the Cryptex Finance decentralized software, and could also be swapped throughout Uniswap and Slingshot through the Layer 2 scaling community Arbitrum, Cryptex added.

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

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

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