An analytics platform backed by Animoca Labs, Forecast Institutehas launched three NFT indices to help track progress in the fast-growing market in real time. These include Forkast 500 NFT, Forkast Sol NFT Composite, and Forkast ETH NFT Composite. According to official reports, the three indicators are: “S&P500” Designed to restore the crypto ecosystem’s trust in crypto data and analytics.
Since NFTs came to prominence a few years ago, there has been no comprehensive source of market data, and this has created loopholes, sometimes exploited. But this is about to change. For example, the Forkast 500 NFT Index is powered by billions of on-chain data points that are indexed, curated and updated in real time. As the name suggests, it covers his collection of 500 NFTs based on various blockchains such as Ethereum, Solana, Polygon, Avalanche, Cardano.
💥 Some exciting news…
Today we launch the first index in the Forkast index family, the world’s most comprehensive index suite for measuring the market performance of digital assets in real time.
— Forkast Labs (@ForkastLabs) March 7, 2023
Forkast Labs Launches Index Targeting Specific Sectors
Commenting on the launch of these indices, Forkast Labs Editor-in-Chief and Co-CEO Angie Lau said: “By deploying standard methodologies, Forkast Labs is able to provide a deeper and more substantive view of the underlying performance of digital assets. It helps us navigate the economy more clearly.”
Earlier, before Forkast announced these indices, Lau expressed the need for reliable data points to increase confidence in the NFT space. “The world is accelerating towards a digital economy, but traditional metrics are often short-sighted as they are largely fragmented, price-centric and incomplete.”
We now have plans to expand into other sectors of the crypto market. “Sector-Specific Data”. Expect to see indices that provide data on virtual real estate, fashion NFTs, and more.
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Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent over five years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world.
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