2023 saw a shift in expansion in the NFT (Non-Fungible Token) market, as it reached a market cap of 10 billion. With projections for an upcoming surge to almost 230 billion by 2030, NFTs are a lucrative option in exploring digital assets.
A noteworthy introduction in the NFT marketspace is SuperNova by NFTFN, positioned as a flagship product of NFTFN. The SuperNova index will allow all NFT traders wide and varied exposure to the NFT market. This will spread the risk across multiple NFTs and reduce the impact of underperformance or volatility in any single NFT.
SuperNova is created with the aim of making owning and trading NFTs easily accessible and cost-effective to all NFT enthusiasts. NFTFN plans to introduce an NFT floor-price index, which will allow traders to hedge their positions on various Blue-Chip NFT collections without the hassle of managing individual NFTs.
SuperNova being an index will allow all NFT traders wide and varied exposure to the NFT market. This will result in spreading the risk across multiple NFTs and reduce the impact of underperformance or volatility in any single NFT. This will see a marked improvement in liquidity, and create a more inclusive and rewarding experience for all NFT participants – a market upgrade over the limitations of the traditional NFT market.
NFTFN is geared up to tackle the barriers in the conventional NFT market. High entry costs, limited liquidity, and challenges in identifying authentic blue-chip projects among new initiatives are multiple barriers. An absence of adequate hedging mechanisms also leaves investors vulnerable to market volatility.
NFTFN has imagined a future where the NFT market is open to all, not just to large investors and collectors. By introducing an NFT-based perpetual DEX, SuperNova, allows traders to hedge their positions without the need to manage individual assets. This will offer synthetic exposure to Blue-Chip NFTs and enable speculation on their floor prices. NFTFN aims to boost liquidity, enhance price discovery, and maintain the integrity of the underlying NFT market by providing low-cost access to premium NFTs.
With SuperNova and other forthcoming indexes, NFTFN aims to democratize the space, facilitating wider participation and unlocking the full potential of the NFT market for all interested traders and enthusiasts
NFTFN has established itself as a premier platform for the exchange of various digital assets, this includes Blue-Chip NFTs, Cryptocurrencies, and Tangible Assets. With a low entry point of just $10, NFT enthusiasts can easily choose to take long or short positions on the asset class if their choice. This makes it a perfect platform for traders of all levels of interest and risk tolerance.
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