What is NFTPerp and why should you care?

There’s no denying that NFTs (especially jpegs) have become a big part of web3. Whether you’re in it for the tech, the art, or just being part of amazing communities, there’s no denying the capabilities of NFTs.

However, a lot of NFT holders are also in it solely for the gains. We call them speculators. The idea of flipping NFTs has in a way brought in enormous newbies to the web3 communities.

WAGMI or NGMI? This is something that a lot of NFT chads and degens think about daily.

We looked at the current NFT speculation environment and identified a few problems:

  1. Blue-chip NFTs like BAYC and CryptoPunks are far too expensive for 99% of web3 communities to get involved. Most people don’t have 80-100 ETH sitting in their wallet for buying jpegs. It becomes a “whale only” type of asset that retail investors can’t get exposure to.
  2. There’s no way to short NFTs for those that are bearish or those that simply want to hedge their positions.
  3. Profiting from trading on OpenSea is difficult because the aggressive platform fee + royalties. Traders need to be up at least 7.5% just to break even.

Enter nftperp.

What is nftperp?

nftperp is an open-source defi software created for all web3 users. nftperp’s core product is a decentralized exchange to long or short blue chip NFT projects such as BAYC, CryptoPunks and more.

With nftperp, you can also -

What are perpetual futures?

Perpetual futures contracts are derivatives, which follow the price of the underlying assets.