In the last few years, People are searching more about the NFT. So most of the world are know about the NFT, but In this article, In this post, we will discuss the Red Hare NFT Index: Asia’s leading NFT Index. So please read carefully.
NFTs are increasing in each and every sector of society. New NFTs are being launched for selling anything. Also, It can be their videos or photos.
Now, you are thinking about what is the Red Hare? Here is the answer, A Red Hare is going to launch Asia’s first NFT index tracking the biggest 50 NFT projects based on their trading volume, market cap, and user base.
This new index has been created by Red Hare so that it will be able to monitor and improve the development of various NFT-related projects through this index.
What Is NFT Index Asia?
As per the above paragraph, The NFT Index will be a project led by Red Hare Capital. The index is a way to track and report on 50 of Asia’s most important blockchain tokens/NFTs (such as EOS, HT, TRX, OMG, and more) and follow how they perform against one another.
Also, they want to create an objective way for both investors and enthusiasts to see which projects are performing best in terms of price performance across exchanges within different regions such as Japan, Korea, and China.
This can also allow us to understand which tokens/NFTs might be currently under- or overvalued.
Now, another question is coming to your mind, Why Is NFT Index Asia Needed? so read the answer. As stated above, there are thousands of tokens and many of them are launching daily.
It can be difficult to keep up with all these new tokens/NFTs coming out and their value in relation to other ones.
Most people look at rankings like CoinMarketCap or even those made by crypto news outlets like CCN that use coin ranking methods that rely heavily on factors such as total supply rather than fundamentals of the token itself (like supply vs demand).
This makes it hard for newcomers who don’t have time to learn about every single token available but still want exposure to these new technologies.
What exactly is the Red Hare NFT Index?
Red Hare Digital Asset Co. has announced a new index that will track 50 of Asia’s leading Non-Fungible Tokens (NFTs). The Red Hare NFT index will be one of many platforms that will be launched to give users easy access to NFTs in Asia.
The Red Hare token, an ERC20 token, can be traded in exchange for Ether or other tokens. This means that with each Red Hare purchase or trade for tokens through another platform, those earnings are tracked and recorded on a public ledger making Red hare Digital Assets Co. a transparent company to all its investors and stakeholders.
Red Hare also offers payouts to Holders, rewarding them with Red Hare tokens if they lock up their Red Hare holdings over a period of time. These payouts help Holders earn passive income as well as create interest from investors who may want to see their holdings grow over time.
Red Hare is launching its NFT Index because it believes there is huge potential in non-fungible assets in Asia, especially given how young some Asian countries still are. The Index itself tracks mostly gaming-based projects but also includes unique collectibles such as CryptoKitties. Each project included on the Red Hare NFT index was chosen by members of Red Hare’s team-based off-market capitalization and uniqueness within the blockchain space.
Wrapping Up
Red Hare is launching what it believes will be Asia’s leading tracker of popular Non-Fungible Tokens (NFTs). The Red Hare NFT Index. There are over 500 different NFTs being used by people all around and you can use any of them to represent just about anything in your life, whether that’s on a game or not. Topping our list is CryptoKitties with 1 billion in global transactions.
FAQs:
Is there an NFT index?
As of July 2018, there were no NFT indexes in operation. New financial products are constantly being created and launched across our world and one category that has been growing rapidly is Non-Fungible Tokens (NFTs).
With each new type of token comes new opportunities to invest. The problem is, that most people don’t know how to evaluate these tokens or where they can find information about them. This is where The Red Hare NFT Index comes in.
How do I get NFT index?
In order to get access to the NFT index, you need to buy Red Hare’s token, RHT. The RHT is an asset-backed token, which means it has a fixed monetary value.
Its main use is as collateral for loans on Ethereum. One RHT costs $0.20 USD. You can get RHT in two ways: by buying it from exchanges like Binance or Bittrex, or by getting ETH and lending it out to someone who wants to borrow money in exchange for receiving more RHT than they originally lent out.
Is there any other thing I should know about it?
It’s simple to build or buy a portfolio that tracks cryptocurrencies. However, there are a handful of services out there that do it better and with more transparency.
One of those is Uphold, which offers access to over 35 traditional asset classes and will be launching Asia’s first National Foreign Token (NFT) index in Q4 2019.
This NFT index will include USD-backed stablecoins, with individual cryptocurrencies weighted based on how many individuals own them versus how much is owed by bots or whales.