Cryptex Finance, a decentralized independent organization (DAO), has announced the launch of JPEGz Index tokens based on the market capitalization of the most prominent NFT collections.
According to Cryptex, the index includes 10 popular NFT collections, including Bored Ape Yacht Club, Yuga Labs’ CryptoPunks, CloneX, Cool Cats, Doodles, Vee Friends, and World of Women. CryptoPunks, CloneX, Cool Cats, Doodles, Vee Friends, and World of Women.
The company added that the tokens will be immediately available on the decentralized Cryptex Finance app and can be exchanged at places such as Uniswap and Slingshot with an Ethereum Arbitrum value of 2.
The minimum value of each collection will be indexed via Chainlink’s NFT floor price feed service using the Coinbase Cloud aggregation methodology.
Joe Sticko, co-founder of Cryptex Finance, said that for the first time, users will be able to track the values of 10 well-known NFT pools using ETH or DAI, eliminating the need to source the correct NFT offline.
In 2021, Cryptex Finance launched TCAP, an index token based on over 2, 000 cryptocurrencies.