MILADY Milady Vault (NFTX)

$17,509.26

+5.93%

Time Interval :

Time Range :

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Rank #N/A
Market Cap 0.00% -
24H Spot Volume 0.00% $175,670.80
24H Volume / Market Cap -
Circulating Supply -
Total Supply -
Max Supply -
Fully Diluted Valuation -
API ID milady-vault-nftx
Project Start Date -
Contracts & Explorer(s) 0x227...2eb48
Websites Website
Links

About MILADY

Milady Vault is one of the Ethereum-based NFT vaults of NFTX, a platform that creates liquid market for NFTs by adopting a mechanism similar to AMM, where users can deposit their NFTs into the vaults.

Milady Vault is one of the Ethereum-based NFT vaults of NFTX.

What is NFTX?

NFTX is a platform for creating liquid markets for illiquid NFTs.

Users deposit their NFT into an NFTX vault and mint a fungible ERC-20 token (vToken) that represents a claim on a random asset from within the vault. vTokens can also be used to redeem a specific NFT from a vault.

Vaults can be created by anyone for any NFT asset on Ethereum. Once a vault has been created, any user can then deposit eligible NFTs into the vault to mint a fungible NFT-backed token referred to as an "vToken".

Users can then pool their minted vTokens in Automated Market Makers (AMMs) like Sushiswap to create a liquid market for other users to trade. With liquidity and trading volume established, the NFT-backed vToken enters into price discovery and a "floor price" is discovered.

The floor price denotes the lowest price for a particular NFT. Users establish a floor price by minting and selling vTokens in markets where they consider their NFT to be overvalued.

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