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    NFTx is a platform that solves the problem of illiquidity by creating liquid markets for NFTs. With NFTx, users are able to their NFTs into a vault to mint a fungible ERC20 asset (vToken) that represents a claim on a random NFT in the vault. At any point later in time, users can redeem a specific NFT from the vault with their vTokens.

    In this post, we want to know the top NFT vaults that have seen the most activity in the past 60 days. There are two types of activities within and NFTx vault;

    1. Mint - When users deposit NFTs to receive vTokens
    2. Redeem - When users return vTokens for their NFTs

    Looking at the vaults with the most activity, we consider both mints and redeems in the last 60 days. The results are presented in the donut chart below:

    The top 3 NFtx vaults with the most activity in the past 60 days are Milady, Cryptophunks, and The genesis project in that order. These three projects account for 55% of the platform's total activity.

    Now let's break this down into redeems and mints. First, let's take a look at redeem activities.

    We can see that in the past 60 days Miladys has been redeemed 2.9m times meaning that users took our NFTs from the vault. All other project vaults like cryptophunks, the genesis, tubby cats, and goblintown all had less than a million redemptions.

    Next, let us look at mints.

    For mints, the story is not very different from redeems as Milady tops the chart followed by goblintown et al. With the above data, we have learned the following:

    1. There's market for NFT liquidity
    2. Miladys are the most traded NFTs on NFTx