MEXC Global launches the world’s first Blue-Chip NFT index
MEXC Global, one of the most liquid cryptocurrency exchanges with over seven million users, has launched the world’s first blue-chip non-fungible tokens (NFT) index 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 will support the growing market and allow retail investors to own screened and highly sought-after NFTs, potentially yielding a decent return on investment. (ROI).
Under normal market conditions, blue-chip NFTs are out of reach for regular users as they can be worth tens, hundreds or in some cases millions of dollars on secondary marketplaces like Rarible or OpenSea. Good examples of blue-chip NFT collections include Moonbirds, Clone X, Meebits, Doodles and others.
Zooming in, despite contract crypto asset prices and the fall of ETH from peaks of around $4.9k in November 2021 to below $100 by the end of H1 2022, Doodles’ and Moonbirds’ floor prices are 11 ETH and 23 ETH respectively. Extrapolating the USDT value means they are available to interested users at 17,248 USDT and 36,063 USDT respectively. At these levels, it is difficult for retail investors, mostly fans of the project’s creators and assets, to participate and acquire their beloved NFTs.
MEXC Global are aware of these barriers. They have then launched what is essentially the world’s first blue-chip NFT index for users who can 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, floating indices of the most listed blue-chip NFTs.
All integrated blue chip NFT indices will be available for trading. For each collection acquired in the primary or secondary market by MEXC Global, the ramp proceeds to tokenize them into one million tokens and list them to interested buyers at a specified price.
An exciting feature is that tokenized NFTs of high-value blue-chip artwork, for example, will have the same rights as an investor or holder with access to the entire asset. The NFT rights will be complete in proportion to the number of NFT tokens held and freely tradable at any time. NFT index holders can also contact the exchange to redeem a complete NFT each week. However, the exchange revealed that holders could easily redeem NFTs twice a week.
