When compared with early April 2022, the ETH price dropped from around $3579 to a low of approximately $880. But now, Ethereum has surged from the bottom to nearly $2,000 at the time of writing.
If calculated in USDT, the price of the majority of “blue-chip” NFTs will declined by around 3 times. However, the prices of blue-chip NFTs such as Moonbirds, Clone X, Meebits, Doodles, etc., still “stop normal users from participating.”
For example, the floor prices of Doodles and Moonbirds are 11 ETH and 23 ETH respectively, but their gains “will be 17248 USDT and 36063 USDT respectively after converting to USDT.”
MEXC, an established cryptocurrency trading platform, has launched NFT Index “to lower the threshold for participants to purchase blue-chip NFTs.” This is reportedly one of the first NFT Indices launched by a virtual currency exchange.
As explained in the update, MEXC uses the purchase of a particular amount of a blue-chip NFT (potential ones) collection “as its value support, and divides the purchased NFT into a certain amount for indexation.”
Users only “need to trade like a spot to get a certain share of the NFT Index to enjoy related NFT rights at the same time.”
As noted in the update, MEXC purchases NFT “before Moonbirds airdrops the second-generation NFT.” Hence, after MEXC receives the second-generation NFT airdrop, it will sell the second-generation NFT Moonbirds Oddities at a suitable price for sale. The share of NFT Index positions which “will be distributed to NMOON holders accordingly.”
And when an NFT officially issues a Token and airdrops it to NFT holders for free, MEXC will “return the airdrop obtained to the holder according to the NFT Index position share.” At the same time, its NFT Index “not only can be bought and sold at any time, but also chosen to redeem when the share reaches a complete NFT exchange.”
MEXC has launched 9 NFT Indexes “supported by Moonbirds, Clone X, Azuki, Meebits, Doodles, Invisible Friends, etc., including NMOON, NCLONEX, NAKI, NMEEBITS, NDDS, NIFRIEND, etc.”
Although the current NFTs are quite popular, and their current total market value has reached $24.53 billion, 99% of NFT projects “have been eliminated by the market or will be eliminated,” the MEXC team claims.
The risk value of zeroing “for the remaining 1% is low after going through a challenging time in the market.” And with the launch of the on-chain ecology of ETH 2.0, NFTs aim to offer a great opportunity to enter Web 3.0.
MEXC has tapped “high-quality” NFT projects and launched them. Projects such as GALA, AXS, SAND, MANA, CHZ, APE, etc. were all listed on MEXC.
Among them, MANA was “launched in February 2020, and its highest gain hit 51,900% after launching, while other projects such as AXS, SAND and APE hit the highest gain of 109,968%, 42,300% and 4,900% respectively.”
With the rise of NFTs and NFTs in SocialFi, GameFi, Metaverse, Metaverse, NFTfi and the applications of other fields, MEXC has worked on a 4-year plan for more than ten sub-tracks such as public chains, DeFi, NFT, DAOs, etc.