I like the idea behind this project; however, in my review, I have some questions about its functionality.
As I understand it, anyone can create an NFT, for example, representing their wallet with tokens. But I'm unclear on what happens if someone wants to transfer their NFT. Does the collateral behind it get transferred as well, and where is that money held?
For instance, I appreciate how Gearbox handles this. They mint an NFT that allows you to create a position (the vault) where all funds are held and then invested in a defined list of protocols to ensure safety. This NFT essentially acts as a key to this vault and represents a position within it. I'm not sure if NFTeed operates in a similar way.
Additionally, I'm unclear on how they plan to price these NFTs. They mentioned using a Chainlink oracle, but this doesn't provide much clarity to me, especially when there's no price feed available for some lesser-known tokens or NFTs.
For instance, how would they evaluate a collection of NFTs where one person mints all of them and sets a high floor price? Pricing such NFTs is a challenge, and it becomes easy for speculation to drive prices. Show Less
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