What is NFTX?

[NFTX[(https://nftx.io/) is a platform for creating liquid markets for illiquid Non-Fungible Tokens (NFTs).

Users deposit their NFT into an NFTX vault and mint a fungible ERC20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault (source : NFTX Docs)

Benefits include:

• LP and stake minted vTokens to earn yield rewards
• Better distribution and price discovery for NFT projects
• Instantly sell any NFT by minting it as an ERC20 and swapping via Sushiswap
• Increased liquidity for NFT investors and speculators

NFTX then targets users who trade blue-chip NFTs like Axis Infinity, CryptoPunks, and CryptoKitties on Uniswap.Long-term, NFTX aims to develop a moat that is the primary issuer of wrapped NFT funds.

Technical Details

• Onchain Data Provider : Flipside Crypto
• Schema : ethereum.core
• Tables : ethereum.core.ez_nft_sales
• Filters:
  • block_timestamp : CURRENT_DATE - interval'60 DAYS'
  • platform_name : nftx
  • event_type : redeem

How Many NFTX Collections (Vaults) ?

Let's first see how many active collections we have had on the NFTX platform in the last 6 months.

To find active collections, we have used the sales table, and any collection that has had even one sale in the last 6 months is considered an active project.

Which Project Are Most Popular?

In the next step, based on the sales volume, we will get the top ten NFTX sets.

The following two diagrams show a list of three sets and ten active sets based on the number of NFTs sold.

Key Findings

• Milady is by far the best-selling collection among FNFTX Vault.
• More than 20,000 NFTs have been traded on NFTX in the last six months, indicating the platform's popularity among NFT enthusiasts.

Now let's take a look at the top three collections over the past six months and see how much they have grown over time.

The following chart is the output of this analysis:

• Milady has only been very popular in the last three months.
• The Genesis Project was the most popular project until March 2022.
• Milady's sales in May grew so much that it tripled compared to the previous month. Milady's sales in May grew so much that it tripled compared to the previous month. Meanwhile, sales of the other two collections show a decrease of more than three times.