(Oct 17, 2022) – Metawen is releasing the first NFT prediction platform, WEN, where users can easily long or short Top NFT collections like Bored Ape Yacht Club with as little as $1
“Due to the non-fungible nature of NFT, it’s difficult to create a financial derivative for NFT. As the result, there was nothing investors can do when the NFT market crashed.
WEN is an innovative approach to allow investors to profit in both market directions.” says the founder of Metawen.
What is WEN and why should I care?
WEN is the first NFT prediction platform that allows users to predict floor price directions of top NFT collections (Doodles, BAYC, Azuki, and more). WEN developed a unique algorithm to calculate payout based on market sentiment and multiple other factors. You can also see what percentage of the community believes the price is going up or down before making an investment.
“WEN makes longing/shorting NFT super simple. You can use as little as $1 to predict the BAYC price is going up. Or you can have peace of mind without worrying about floor price dumping a week later” says a spokesperson for WEN
What are the problems WEN trying to solve?
1) It’s difficult to short or hedge NFT investment
- You cannot borrow a BAYC, sell it now, buy it back at a lower price and return the NFT.
2) Top NFT collections are getting too expensive
- One Bored Ape Yacht Club Ape today cost $100,000, pricing out 99% of investors.
3) Difficult to evaluate market sentiment
- You don’t know whether the community is truly bullish on a collection until they put their money into their belief.
How does it work?
Connect your wallet, claim free wETH, and start predicting whether a collection’s floor price is going up, down, or staying flat. You will automatically receive your winning if your prediction is correct.
Is the service free?
Yes, WEN provides free wETH for paper money trading during beta. You can play for fun or just watch on the sideline. We will not enable real ETH until the system is fully tested.
Any benefit for early participants?
Early participants can spend their wETH to claim a WEN Pass or airdrop in the future. The WEN Pass holders will receive a better payout. This utility is extremely valuable when we enable real ETH prediction.
To learn more, check out WEN website:
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