# MarketVault The MarketVault is where NFTs sold to the protocol are kept. NFTs that have been sold to the MarketVault can be purchased by 🧑‍🎨[Collectors](https://docs.fungify.it/users/collector) using the redemption mechanism. The MarketVault also directs the minting and burning of the 🖼️[NFT Index Token](https://docs.fungify.it/tokenomics/nft-index-token), which allows the token to track its backed value via arbitrage. ## Motivation Interacting with the MarketVault is permissionless; it is not just a guaranteed counterparty for the protocol, but for every market participant. Since it is able to receive multiple types of NFT and produce a single fungible token, each new collection whitelisted to the MarketVault builds upon the liquidity of the previous collections, allowing it to accrete upon itself. Rather than a variety of fragmented vaults with shallow liquidity, the MarketVault provides a unified, global source of liquidity for NFT trading. ## MarketVault NFTs enter the vault when a 👨‍💼[Seller](https://docs.fungify.it/users/seller) directly deposits their NFT into the MarketVault in exchange for 🖼️[NFT Index Token](https://docs.fungify.it/tokenomics/nft-index-token). NFTs in the MarketVault can only exit via the 🎰[Redemption Mechanic](https://docs.fungify.it/protocol/redemption-mechanic). ## Collections Whitelist The protocol will only accept whitelisted NFT collections. The following NFT collections are currently on the whitelist: * Bored Ape Yacht Club * Crypto Punks * Mutant Ape Yacht Club * Pudgy Penguins * Azuki * Doodles NFT collections can be added to the whitelist through 🏛️[Governance](https://www.notion.so/Governance-2a116621d5f24f228a24a90dbde2faf9). In order to be added, a collection must have a reservoir price feed. No collection with a total marketcap of under 50MM was included in the initial list. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.fungify.it/protocol/marketvault.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.