NFTX is a cryptocurrency project that allows users to create and trade ERC20 tokens backed by NFT collectibles. These tokens, called funds or vaults, are fungible and composable, making it possible to create and trade funds based on popular NFT collections such as CryptoPunks, Axies, and CryptoKitties.

1. NFT-backed Tokens:

   • NFTX enables the creation of ERC20 tokens that are backed by NFT collectibles, providing a way to trade and own fractions of NFTs.

2. Fungible and Composable:

   • These tokens are fungible, meaning they can be exchanged for one another, and composable, allowing them to be combined into more complex financial instruments.

3. Trading and Liquidity:

• Users can buy, sell, and swap NFTs instantly on the NFTX marketplace, earning yield by providing liquidity for popular NFT collections.

4. Vault Operations:

   • The three primary vault operations are minting (sending NFTs to a vault and receiving vTokens), redeeming (burning vTokens to receive NFTs), and swapping (exchanging NFTs in a wallet for NFTs in a vault).

5. Fees and Yield:

   • Vaults charge fees in ETH for buying, selling, and swapping NFTs, which are distributed to inventory stakers and liquidity providers. Inventory stakers receive 20% of the ETH fees, while liquidity providers earn 80% of the vault fees and additional AMM trade fees.

6. AMM and Premium Fees:

• NFTX employs an Automated Market Maker (AMM) system with vToken/WETH pairs and two fee tiers. Premium fees, ranging from 500% to 0% over 10 hours, are designed to incentivize liquidity providers, with 90% of the proceeds going to the original seller.

7. Target Users:
   • NFTX is primarily designed for users who want exposure to NFT markets without directly trading individual NFTs. Arbitrageurs also play a key role in minting and redeeming fund tokens.

Overall, NFTX provides a platform for users to access and trade NFT markets in a more liquid and fungible manner, while also offering yield opportunities through inventory staking and liquidity provision.

To store NFTX tokens, you can use a hardware wallet like Ledger or Trezor. These wallets are designed for cold storage, which means they are offline and not connected to the internet, making them more secure against hacking attempts. You can transfer your NFTX tokens to the hardware wallet and manage them securely. Additionally, you can use software wallets like MetaMask, Trust Wallet, or Enjin Wallet, which are digital wallets that can store NFTX tokens. However, software wallets are less secure than hardware wallets as they are connected to the internet and can be vulnerable to hacking attempts.

To buy NFTX tokens, follow these steps:

1. Access a Decentralized Exchange (DEX): Go to a DEX like Uniswap, where you can trade NFTX tokens.
2. Set Up a Web3 Wallet: Download and install a Web3 crypto wallet like Metamask or an App wallet like Trust Wallet.
3. Find NFTX Tokens: Search for NFTX tokens on the DEX and select the desired token.
4. Place an Order: Enter the amount of tokens you want to buy and the price you are willing to pay.
5. Confirm the Transaction: Once your order is matched, confirm the transaction and pay the required gas fees.

Remember to check the current market price and gas fees before making your purchase to ensure you get the best deal.