Analytics platform backed by Animoca Labs, rule out laboratories, has launched three NFT indices to help track the progress of the fast-growing market in real time. These include Forkast 500 NFT, Forkast Sol NFT Composite, and Forkast ETH NFT Composite. According to the official report, the three indices will serve as “S&P 500” of the crypto ecosystem, and are designed to restore trust in cryptographic data and analytics.
Since NFTs rose to prominence a few years ago, there has not been a comprehensive source of market data, and this has created loopholes that have been exploited at times. However, this is about to change. For example, the Forkast 500 NFT Index is powered by billions of on-chain data points that are indexed, organized, and updated in real time. As the name suggests, it will cover 500 NFT collections based on various blockchains like Ethereum, Solana, Polygon, Avalanche, Cardano, and more.
💥 Some exciting news…
Today we are launching the first of our Forkast family of indices, the world’s most comprehensive set of indices for measuring market performance of digital assets in real time.
— Forkast Laboratories (@ForkastLabs) March 7, 2023
Forkast Labs to Launch Indices Targeting Specific Sectors
Commenting on the launch of these indices, Angie Lau, Editor-in-Chief and Co-CEO of Forkast Labs, notes: “By implementing standard methodologies, Forkast Labs can provide deeper and more substantive insight into the fundamental performance of digital assets. These tools can help all investors and participants navigate the digital economy with greater clarity.”
In the past, before Forkast launched these indices, Lau had expressed a need for credible data points to inspire confidence in the NFT space. “The world is accelerating towards a digital economy, but traditional metrics often only provide a myopic view, as they are largely fragmented, price-focused and incomplete.”
Now there are plans to venture into other sectors of the crypto market with what they call “Sector-specific data”. Expect to see indices providing data on virtual real estate or trending NFTs, and so on.
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*All investment/financial opinions expressed by NFT Plazas come from the personal research and experience of our site moderators and are intended for educational purposes only. People are required to fully research any product before making any type of investment.
Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the world.
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