Forkast Labs, a media and web3 infrastructure player, has introduced a series of index trackers for digital assets, known as Forkast 500 NFT, Forkast SOL NFT Composite and Forkast ETH NFT Composite.
These trackers aim to become the crypto market equivalent of the S&P 500 and the Nasdaq Composite, tracking equities. Forkast Labs is backed by Animoca Brands, and emerged in January 2023 following the merger of Forkast.News and NFT tracker CryptoSlam, both portfolio companies of the software investment giant.
The company's founders hope that the trackers can help restore trust in crypto data by providing a more substantive and deeper view of the fundamental performance of digital assets.
The Forkast 500 NFT is intended to act as a proxy for the entire NFT market, with billions of on-chain data points indexed, organized and updated in real-time. It includes up to 500 eligible smart contracts from blockchains including Ethereum, Solana, Polygon, Cardano, BNB Chain, Avalanche, Cronos and others. The data set for the Forkast 500 NFT began at Jan. 1 2022, and the company plans to expand the product offering in the future, possibly including sector-specific data such as virtual real estate or fashion NFTs.
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