What is NFTX?
NFTX is a floor indexing platform for NFT collectibles. Users can lock one series of collectible NFTs into the relating NFTX vault. Then they will receive the ERC-20 vTokens correspondingly at a ratio of 1:1. Those holding a series of vTokens can pay 1 vToken as a ransom and receive a random NFT from the relating vault. The NFTX model is designed to make NFT holders willing to lock up less rare NFTs into the NFTX vault for the chance to exchange for other more rare NFTs, leaving the pool with the least rare and least expensive NFT collectibles. Through its 1:1 vToken exchange ratio, the market can finally get a relatively fair floor price index for the collection.
The NFTX token is a governance token of the NFTX platform.