Introducing @nftperp, a perpetuals futures DEX that allows you to trade blue-chip NFTs without actually owning them.
Built on top of @arbitrum, here are a few reasons why @nftperp is so vital to the NFTs moving forward.
A thread 🧵
1/
@nftperp is a Perpetuals Futures DEX that allows you to place LONG or SHORT trades to speculate floor prices of your favorite collections such as #BAYC, #CryptoPunks, #moonbirds, & more.
Utilizing a vAMM architecture, you can also apply up to 5x leverage to your trades.
2/
If speculating on the floor prices isn’t enough for you, @nftperp also gives you the option to hedge yourself against your own NFTs.
Degens like yourself can only buy low and hope to sell high.
We offer an option to hedge yourself whether in bull or bear markets. 😈
3/
The fact is, not many of us degens can afford Bored Apes.
Don’t let that stop you from taking advantage of insane NFT price action!
Our why - We looked at the current NFT speculation environment and identified a few problems: (a thread 🧵)
1. Blue-chip NFTs like BAYC and CryptoPunks are far too expensive for 99% of web3 communities to get involved. Most people don’t have 80-100 ETH sitting in their wallet for buying jpegs. It becomes a “whale only” type of asset that retail investors can’t get exposure to.
2. There is no way to short NFTs at the moment. NFT traders can only buy low and hope to sell high. (and ape holders don’t have a way to hedge their position)