Flying Tulip’s NFT options market tops $5M in volume, says Cronje

Key Summary

Flying Tulip's Perpetual PUT Marketplace has reached $5 million in cumulative trading volume, with 279 sales logged by late June 2026. The ftPUT NFTs, which come with a built-in exit, were trading at premiums of 4-6% above their redemption value. This suggests traders are treating these NFTs as financial instruments, not collectibles. The protocol's total value locked is approximately $20 million, with lending TVL nearly $20 million. The supply of ftUSD, Flying Tulip's stablecoin, sits close to $4.75 million.