The Forkast 500 NFT, Forkast SOL NFT Composite, and Forkast ETH NFT Composite are the respective components of the three NFT indices, as stated in a recent article (1).
These indexes are intended to help reestablish faith in crypto data and analytics, and they are promoted as having the potential to act as the S&P 500 of the cryptocurrency ecosystem.
The ecosystem surrounding digital currencies is expanding, and one of its spinoffs, the ecosystem surrounding non-fungible tokens, has acquired significant traction over the previous two years.
These indexes will constitute the industry’s first exhaustive index of digital collectibles in their respective spaces.
The company claims that the Forkast 500 NFT Index is driven by billions of data points stored on chains, which are then indexed, categorized, and updated in real time.
The index is made up of 500 different non-fungible tokens that were created using a variety of blockchain protocols. These protocols include Ethereum, Solana, Avalanche, Polygon, and Cardano.
The cryptocurrency news media platform is known as Forkast.News and the data analytics company known as CryptoSlam merged to become the company known as Forkast Labs.
This year saw the completion of the merger that had been brokered by Animoca Brands’ co-Founder and CEO, Yat Siu.
The CEOs of both separate companies are now co-leading the newly spun venture created due to the merger.
It was claimed that Forkast.News was losing money before the merger, which was a situation that actually played out due to the repercussions of the crypto winter.
Forkast Laboratories was the solution to a problem that all parties concerned believe will be critical in assisting with developing a new strategy that will lead to increased profitability.
The data point was particularly set on the first day of January 2022, riding on a preset approach, according to the most recent indices launched.
Forkast Laboratories can provide a more in-depth and substantial perspective of the underlying performance of digital content because of the deployment of standard procedures.
According to Angie Lau, Editor in Chief and Co-CEO of Forkast Labs,
“These tools can allow every investor and consumer to traverse the digital economy with greater clarity.”
Forkast Labs is Developing New Goods, Going Beyond the NFT Index
Although the Indexes that are now in operation give the impression of being marketable products, the leaders of Forkast Laboratories have much grander ambitions for the company.
When asked about the strategy to launch the indexes initially, Lau stated that there was a requirement to build confidence within the industry because it concerns the accurate data price for a crypto product that is more or less controversial.
He stated, “The world is moving towards a digital economy, but the old measures typically only present a myopic view as they are mostly fragmented, price-centric, and incomplete. The world is racing toward the digital economy.”
The product is planned to expand into other markets soon. One of the areas that will most likely receive attention is what the study refers to as “sector-specific data,” which might include the measurement of virtual real estate or fashion NFTs, for example.