So, in the last post we talk about #Niftsy, how it works, and today let's talk about oracle, index and what the main purpose they have.
Shortly, you can create NFT, then wrap it with collateral and sell.After that, oracle will register the transfer, and the protocol will put a share of the money paid on the transfer into the wrapped collateral, elevating the NFT’s value.
The index will register the transfer and will reflect it in its market statistics for everyone to see.Index have 4 functions:
1.It helps Oracle to evaluate project
2.Serves as a hedging tool
3.Creates a tool for selling the whole market at once.
You also can find much more information on their medium page. What do you think about this system Oracle-index? Do you think that it's only the beginning of NFT era ?
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