JPEGz index token tracking NFT prices appeared on the marketDecentralized Autonomous Organization (DAO) Cryptex Finance announced the launch of a JPEGz index token based on the market capitalization of some of NFT's most popular collections.
According to Cryptex, the index includes 10 well-known NFT collections, including Bored Ape Yacht Club and CryptoPunks from Yuga Labs, as well as CloneX, Cool Cats, Doodles, Vee Friends and World of Women.
The company added that the token will be directly available in the decentralized Cryptex Finance app, and can be exchanged at venues such as Uniswap and Slingshot via a Level 2 solution for Ethereum Arbitrum.
Minimum prices for each collection are displayed in the index via Chainlink's NFT Floor Pricing Feeds service with the Coinbase Cloud aggregation algorithm.
Users will be able to track the prices of 10 popular NFT collections for the first time using ETH or DAI, without having to store the corresponding NFTs themselves," said Cryptex Finance co-founder Joe Sticko.
In 2021, Cryptex Finance launched TCAP, an index token based on more than 2,000 cryptocurrencies.
