Flying Tulip NFT Options Market Tops $5M Volume, Cronje Says

The interesting part is the structure, not the volume: ftPUT turns an options-like downside claim into a transferable NFT, so the protection itself becomes a tradable asset with its own market. That separates holders who want exposure to FT from those who want the redemption terms, and effectively prices the two differently. Whether this NFT wrapper becomes a repeatable template for token redemption rights, or stays a one-off, is the open question worth watching.