NFTs are widely increasing in each and every sector of society. New NFTs are being launched for selling anything. It can be their videos or photos. In this post, we will discuss the NFT Index Asia.
Red Hare is going to launch Asia’s first NFT index tracking the biggest 50 NFT projects. Red Hare is Asia’s premier NFT analytics company that has announced to launch of the Red hare NFT Index. This will be simply the price-weighted methodology that will track the performance of most iconic NFT projects.
We will be discussing more on the NFT index Asia. how can you use it to track the top projects and when will it be launched. What will be new in this index? So, without wasting your time, let’s start.
What Is NFT Index Asia?
The recent NFT reports suggest that NFTs are shrinking. The NFT sales have decreased in the month of March. According to CryptoSlam, around 635,000 people have purchased NFT for an average price of $427. This number has come down from 948,000 to $659 in January. However, the founder of the Red Hare NFT Index says that the market is merely evolving.
Today NFTs are going beyond art. NFTs now provide access to social clubs or the right to watch someone’s personal videos. NFTs have entered industries such as healthcare, law, real estate, and more.
What Will NFT Index Asia Showcase?
The NFT Index Asia or the Red Hare NFT Index will consist of the top 50 largest NFT collections. This will include CryptoPunks, BAYC, Meebits, MAYC, Clone-X, and Sandbox, in USDT value for NFTs. With varied exposure and monthly rebalance, RHNI presents a rule-based methodology aiming to optimize
- Evaluate price changes.
- Become a valuable tool for all investors for price discovery.
Last year in 2021, the NFT market surpassed US$17 billion, and as of last month, the total volume traded in NFTs has exceeded US$54 billion. This trend is also expected to increase, with investment bank Jefferies forecasting the NFT market capitalization to exceed US$35 billion this year and US$80 billion in 2025.
The NFT index provided by Red Hare will become a benchmark, it will help all institutions to establish NFT-related investment products, making it easier for everyone to enter and partake in the NFT market.
Here we conclude our post on NFT Index Asia. This will be a brand new platform where you can check the stats of the top 50 NFT products. If you are planning to invest in NFTs, this site is worth visiting.
Keep exploring our website to know more about NFTs.
Frequently Asked Questions
Q1. Is There Any NFT Index?
The NFT Index is a digital asset index designed to track tokens’ performance within the NFT industry. The index is weighted based on the value of each token’s circulating supply. The NFT Index aims to track NFT projects in Decentralized Finance that show a commitment to ongoing maintenance and development.
Q2. How Do I Know My NFT Value?
The social proof associated with the project behind an NFT is one of the decisive factors that determine the NFT’s value. Checking their profiles on social media platforms like Twitter and Instagram can help one gauge their acceptability.
Q3. What Are NFT Coins?
NFTs, or Non-Fungible Tokens, represent ownership rights to unique digital or real-world assets, while NFT coins are fungible, i.e. they can be traded or exchanged for another NFT coin of the same value. As mentioned, NFT coins are the token currencies that power the economy of NFT projects.