What is nftperp?

nftperp’s core product is a decentralized exchange to long or short blue chip NFT projects such as BAYC, CryptoPunks and more.

For example, Bob owns an ape with a floor price of 100ETH. He wants to lower his downside risk but he doesn’t want to sell his precious ape. He found out about nftperp and opened a 100ETH short position on the exchange.

If the floor price of BAYC drops to 90ETH, his ape is now worth the value of 90ETH but he can now close his short position with a 10ETH profit.

Instead of losing 10ETH with the floor price drop Bob can now hedge his position with no value lost. And if the floor price of BAYC increases to 110ETH, Bob would have a loss of 10ETH on his short position but his bored ape is now worth 10ETH more.