Crypto.com, Yam Finance, and UMA Collaboration

Crypto.com, Yam Finance, and UMA announced collaboration to deliver value to the #NFT market.

uLABS recently announced the CryptoPunks Index, a synthetic token that tracks the CryptoPunks market. The design uses transfer prices of the CryptoPunk collection over the last 30 days to infer an index value.

It allows the holders of the index to be exposed to the wider market without having to pay for an entire Punk or having to choose which to invest in. For the first index, UMA and YAM are working together to prepare the CryptoPunks Index for launch. Once launched, with YAM’s support maintaining the product, Crypto.com will continue to work with UMA on their research efforts and explore the best possibilities to bring this product to their user base.

Crypto.com positions its NFT platform as “the premier platform for collecting and trading NFTs, curated carefully from the worlds of art, design, entertainment, sports, and beyond.” Crypto.com/nft hosts frequent NFT launches.

Following crypto.com’s successful launch of their NFT platform, they’re continuing to show their commitment and enthusiasm in this space. They expect a lot of growth and demand for NFTs, and are looking forward to continued research and development into the products their customers want to be involved in.

Crypto.com and UMA have discussed collaboration on future products in the NFT space. Both teams are dedicated to helping this movement grow, and are exploring ways to collaborate.

For crypto.com, working with UMA and YAM on this initiative means they can look to offer this structure to their customers and continuously iterate on the indices and the products available within the suite of crypto.com products. For UMA and YAM, working with crypto.com means building products with an innovative team in the space and a chance to expand user base.

What is UMA?

UMA is a decentralized financial contracts platform built to enable Universal Market Access.

What is Crypto.com?