Welcome to the weekly update of all things NFTX, along with a sprinkling of NFT news as well.

Vault Action

Taking a look at the front-end UI interface this week we’ve seen

  • 1,588 unique wallets connected
  • 155 mint events
  • 100 redeem events

Of those 155 mint events there was an increase of 400% on Mints into the $MASK vault with 246 new Hashmasks, and a 160% increase in redeems from the vault as users rushed to try and pull some of the higher value masks through random redemptions.  

By the end of next week you may not have to rely on random redemptions though, but you can read more about that in the product development section below.

Here are the movements on our existing vault holdings over the past 7 days:

  • Punk Basic -3 (-3.61%)
  • Axie-Origin -8 (-15.69%) *note, this vault is now set to redeem only
  • Kitty-0 -6 (-1.49%)
  • Kitty-0-Fast -23 (-10.85%)
  • Avastar Basic -28 (-9.15%)
  • Avastar Rank 30 -49 (-17.13%)
  • Avastar Rank 60 -6 (-15.00%)
  • Glyph -2 (-18.18%)
  • Mask -6 (-1.28%)
  • Waifus -24 (-12.63%)
  • Pixl-Basic +7 (1.75%)
  • Solos +4 (16.67%)
  • BAYC -12 (-38.71%)

Product Development

The final updates and UAT fixes are being applied to the V2 interface in anticipation for a launch. This launch will see the beginning of Alex’s vision which is a refinement of the original lite paper.

The V2 release is an exciting improvement to the protocol that will provide benefits to all types of NFTX platform users, from collectors to sellers, arbitrageurs to liquidity providers, and everyone in between.

One of the most hotly anticipated releases as part of the V2 interface will be targeted redeems which will allow you to pick any NFT from the Vault for a percentage premium fee.

The V2 release will make situations like the minting of 200+ Hashmasks into the vault an arbitrageurs dream as you’ll be able to go through the vault and pull all the valuable masks out as you find them.

Keep an eye on our Twitter account and Discord announcements channel for release details.

Governance

A reminder that the first in our monthly Governance calls will begin tomorrow on 2nd of June at 16:00 UTC. The agenda and call details will be announced through Discord and on the Forum for anyone that wants to join.  

Now that the governance call has extended to a monthly time-frame there will be a longer product and vision update as part of the first call.

Viewing your NFTs

As the popularity of NFTs is growing we are seeing more new products hit the market to fill a gap. Given that the main focus on NFTs at the moment surrounds art it is no wonder that we’re seeing a growing list of apps/websites that will showcase your NFTs as art collections.

The tools that have stood out for us so far include

  • Lazy 3d  — a 3D gallery based off you TopShot, ETH Wallet, or Lazy.com profile
  • OnCyber — Three styles of rooms that are limited
  • Rare Rooms — A 3D Gallery view with a VR view to come
  • Async Art — Designed for Apple TV or new browser tabs in Chrome.
  • Lazy — Marc Cuban backed gallery view

If you’re using another NFT viewer that we haven’t mentioned here, or are working on something and need some beta testers, feel free to email javery@nftx.org and let us know.

Numbers check

The 7d price for NFTX is down by 16.5%, sitting at $60.90 mark as of Tuesday afternoon.

That's all for this week. If you have any questions, come and join in on the Discord channel.