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Crypto data intelligence service Forkast Labs launches new series of NFT indices to track health of digital asset economy

  • The company’s main Forkast 500 NFT index aims to be ‘a proxy of the entire NFT market’
  • It will measure the real-time performance of NFTs across 21 blockchains including Ethereum, Solana, Polygon and Cardano

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Forkast Labs co-founders Sarah Chang, left, and Angie Lau. Photo: Handout
Xinmei Shen
Forkast Labs, a new data intelligence service formed by the January merger of cryptocurrency news site Forkast.News and market tracker CryptoSlam, has launched a series of new non-fungible token (NFT) indices that aim to capture the health of the digital asset economy in real time, the company announced on Tuesday.
The company said its main Forkast 500 NFT index aims to be “a proxy of the entire NFT market”, measuring real-time performance across 21 blockchains including Ethereum, Solana, Polygon and Cardano.

Traditional digital asset market rankings primarily rely on data including prices, sales and transaction volumes, through which “it is hard to distinguish the health of the NFT economy”, Forkast Labs co-founder and chief operating officer Sarah Chang said in an interview on Monday.

In contrast, the Forkast 500 NFT index “provides a much more holistic and complete view of the overall market”, she told the South China Morning Post.

Non-fungible tokens are displayed on the website of NFT marketplace OpenSea on February 28, 2022. Photo: Reuters
Non-fungible tokens are displayed on the website of NFT marketplace OpenSea on February 28, 2022. Photo: Reuters

Chang added that Forkast Labs also plans to launch separate indices tracking cryptocurrencies later this year.

Forkast Labs’ new indices include two separate trackers for NFT performance on Ethereum (Forkast Eth NFT Composite) and Solana (Forkast Sol NFT Composite), two of the most popular blockchains for such assets.

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