NFTX

NFTX is a community-owned protocol for NFT index funds on the Ethereum blockchain. The platform allows users to deposit their NFTs from a specific collection (e.g., CryptoPunks) into a "vault" and mint a fungible ERC-20 token (known as a vToken, such as $PUNK) in return. These vTokens are backed by the NFTs in the vault and can be traded on decentralized exchanges (DEXs) like Uniswap, providing instant liquidity for otherwise illiquid assets. The mission of NFTX is to serve as a foundational piece of the NFT ecosystem, enabling core financial services like liquidity, price discovery, and the ability to borrow or lend against NFTs.