MEXC Global, one of the most liquid cryptocurrency exchanges with over seven million users, has launched the world’s first index for blue-chip non-fungible tokens (NFTs) to lower the participation threshold for interested retail investors.
In a recent press release, the crypto ramp, which has taken a client-first approach to service delivery, said the decision would prop up the growing market and allow retail investors to own screened and highly coveted NFTs, possibly posting a decent return on investment (ROI).
Under normal market conditions, blue-chip NFTs are out of reach of ordinary users since they can be worth tens, hundreds, or in some instances, millions of dollars in secondary marketplaces like Rarible or OpenSea. Prime examples of blue-chip NFT collections include Moonbirds, Clone X, Meebits, Doodles, and others.
Zooming in, despite contracted crypto asset prices and the fall of ETH from peaks of around $4.9k in November 2021 to sub $100 by the end of H1 2022, Doodles’ and Moonbirds’ floor prices are at 11 ETH and 23 ETH, respectively. Extrapolating their USDT valuation means they are available for interested users at 17,248 USDT and 36,063 USDT, respectively. At these levels, it is tough for retail investors, mostly fans of the project’s creators and assets, to participate and acquire their cherished NFTs.
MEXC Global is aware of these barriers. Subsequently, they have launched what’s, in essence, the world’s first blue-chip NFT Index for users to take part in the high-octane and lucrative industry. As of mid-August 2022, MEXC Global had released nine NFT indices with support from Moonbirds, Clone X, Azuki, Meebits, Doodles, Invisible Friends, and more. By releasing these indices, MEXC Global provides the rapidly growing NFT community with reliable, liquid indices with the most listed blue-chip NFTs.
All integrated blue chip NFT indices will be available for trading. For every collection acquired in the primary or secondary market by MEXC Global, the ramp proceeds to tokenize them into one million tokens and list them for interested buyers at a specified price.
An exciting feature is that tokenized NFTs of any high-value blue-chip artwork, for instance, will bear the same rights as that of an investor or holder with access to the whole asset. NFT rights will be consummate to the number of NFT tokens held and can be freely traded at any time. NFT index holders can also contact the exchange to redeem a complete NFT every week. However, the exchange revealed that holders could readily redeem NFTs twice a week.