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Red Hare to Launch Asia’s First NFT Index, Covering Top 50 Projects

2y ago•

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The post Red Hare to Launch Asia’s First NFT Index, Covering Top 50 Projects appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

Red Hare Analytics (“Red Hare”), Asia’s TOP crypto analytics company, is proud to announce the launch of the Red Hare NFT Index (“RHNI”), Asia’s First NFT index with an adjusted price-weighted methodology that tracks the performance of most iconic NFT projects, as defined by market capitalization.

Background

As the public becomes more aware of non-fungible tokens (NFTs) thanks to celebrities and famous IPs including Louis Vuitton, Disney, Adidas, Coca-Cola and Lamborghini, the NFT markets gradually mature. In 2021, NFT market cap surpassed $17 billion; As of April 2022, the total volume traded in NFTs has exceeded $54 billion.

In addition, we are expecting much more growth to come for the NFT market. According to Jefferies, the bank’s NFT market-cap forecast to more than $35 billion for 2022 and to over $80 billion for 2025.

Introduction of RHNI

However, there is no standardized metric to track the trend or trading activities of NFT projects and the prices of top NFT projects set a very high barrier for normal investors to participate in the NFT sales.

Red Hare identified this gap and developed Asia’s first NFT index – Red Hare NFT Index (“RHNI”) to track NFT market activities and project values.

With a basket chosen from TOP 50 largest NFT collections (including CryptoPunks, BAYC Meebits, MAYC, Clone-X, Sandbox, etc), RHNI provides a diversified and reliable benchmark in the USDT value for NFTs.

With the exposure of collectibles, PFP, game, utility, art, social, IP and metaverse. and a monthly rebalance, RHNI presents a rule-based methodology aiming at optimizing liquidity, evaluating price movements and becoming a useful tool for price discovery.

Highlights