Index Coop Announces Launch of Game-Changing NFT Index Product
NEW YORK, April 27, 2022 /PRNewswire/ –Index Coop, a provider of on-chain crypto index products, announced the launch of its NFT index token JPG. The JPG NFT Index token ($JPG) provides exposure to a diversified basket of blue-chip and premier NFT collections through the convenience of a single token. With JPG, investors can access some of the most established NFT collections without the high cost and curation typically needed to invest in individual NFTs. JPG was designed for those seeking to enter the NFT market but who lacked the necessary capital or curation expertise. The product also addresses NFT enthusiasts who want a broad holding of blue-chip NFTs a part of their core position.
Non Fungible Tokens (NFTs) are a revolutionary cultural, artistic, and financial phenomenon with now more than a $40B in market cap. However, to date, it has been very difficult for everyday investors to access NFTs due to the high degree of curation expertise needed and the very high entry costs. The JPG NFT Index token addresses these barriers by providing a fully-backed, diversified collection of blue-chip and premier NFT collections through a single index token. In particular, JPG provides exposure to CryptoPunks, Bored Ape Yacht Club, Meebits, and Chromie Squiggle NFT collections, to name a few. Key advantages of the JPG NFT Index over holding individual NFTs include broader diversification, lower capital requirements, faster fulfillment, higher liquidity, lower fees, and expert curation provided by the underlying protocols. The JPG index token is fully collateralized by the underlying token holdings and can be redeemed for them without permission.
“JPG is a game-changer,” said Joseph Knecht, the Index Coop Methodologist who designed JPG. “It’s the first NFT index token that provides broad exposure to the NFT market. We’re excited about the opportunity to bring NFTs to a new class of collectors.”
JPG is made possible by cutting-edge advances in NFT technology such as NFT liquidity vaults, fractionalization protocols, curation DAOs (decentralized autonomous organizations), bonding protocols, and liquid wrappers. The initial inclusion criteria for JPG include requiring that the underlying token be backed by NFTs, have a >$2M market cap, high underlying liquidity, represent art of collectibles, and represent a blue-chip or premier collection. Future inclusion decisions will be governed by stewards of the NFT ecosystem who hold the Collectooors NFT as well as JPG token holders.
JPG can be purchased at Index Coop or on the Uniswap decentralized exchange.
About Index Cooperative
The Index Cooperative is a decentralized community powering crypto index products that can be purchased on a blockchain. Index Cooperative products provide one-token exposure to popular crypto themes such as decentralized finance, the Metaverse, and the Web3 data economy. As of April 2022, Index Cooperative products have an aggregate Total Value Locked (TVL) of more than $200M.
Index Cooperative Press Contact: marketing@indexcoop.com
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SOURCE Index Cooperative
