### What is NFTX?

NFTX is a platform that enables the creation of ERC20 tokens backed by NFT collectibles. These tokens, known as funds or vTokens, are fungible and composable, providing a way to create liquid markets for otherwise illiquid NFTs. NFTX enhances NFT accessibility and liquidity through innovative vault and trading mechanisms.

### How does NFTX work?

NFTX operates on the Ethereum blockchain, inheriting its Proof of Stake (PoS) consensus mechanism. The platform allows users to deposit NFTs into vaults and mint ERC20 tokens (vTokens) that represent claims on the NFTs stored. 

Key features include:
- **Vault creation:** Users can create vaults for specific NFT collections.
- **vTokens:** Fungible ERC20 tokens are minted to represent NFTs in the vaults.
- **Custom AMM system:** A modified Uniswap V3 fork enables trading of vTokens and WETH pairs.
- **Inventory staking:** Vault contributors can earn passive income through staking.

The platform also introduces dynamic premium fees and ETH-based vault fees, enhancing functionality for traders and liquidity providers.

### What are the potential use cases for NFTX?

#### Applications:
- **Fractional ownership:** High-value NFTs can be divided into vTokens for broader access.
- **Liquid markets:** Creates markets for NFT collections, improving tradeability.
- **Yield generation:** Liquidity providers earn yield through vToken pools.
- **Collateralised lending:** Enables loans backed by NFTs.

#### Industries:
- Digital art
- Gaming
- Collectibles
- Decentralised finance (DeFi)

#### Partnerships:
NFTX integrates with Decentraland and is deployed on networks like Arbitrum and Base to enhance its capabilities.

### What is the history of NFTX?

NFTX was launched in December 2020, with key milestones including:
- **December 2020:** Platform launch.
- **January 2022:** Introduction of inventory staking.
- **2023:** Release of NFTX V3 featuring a new AMM and dynamic fee structure.


NFTX

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