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Industry-leading NFT Fractionation Platform, fracton protocolhas achieved a significant milestone with Kucoin trading volume surpassing $3 billion. fractionl hiNFT tokenThe platform gave retail traders access to high-value NFT collections, unleashing liquidity in the process.
Although the NFT market has made great strides in recent years, unlocking liquidity within collections remains a major challenge. This is primarily due to the fact that non-fungible tokens are inherently indivisible. However, the Fracton Protocol revolutionized this narrative through its revolutionary solution for fractionation.
The Fracton Protocol breaks down high-value NFTs into smaller pieces of fungible tokens so that anyone can own and trade them. This approach has given retail traders easy access to high-value collections like his BAYC and CryptoPunks that were previously only accessible to a select few.
Fracton’s fragmentation infrastructure centers around Metaswap, a tool that splits high-value NFTs such as BAYC into 1,000 ERC-1155 tokens to generate BAYC NFTs for individual people. Each of these NFTs will be subdivided into 1,000 ERC-20 tokens known as HiBAYCs. This process applies to all NFT collections that use the function, effectively creating a Hi version of itself. This allows traders with only 1 USDT to own part of their favorite collection.
So far, Fracton has already categorized over 25 outstanding NFT collections and made them accessible to private investors. Some notable names include CryptoPunks, BAYC, MAYC, Doodles, Azuki, Fidenza, Chromie Squiggles, Otherdeeds, Sandbox LAND, Gazers, and even rare Ethereum name service domains such as 999 Club.
Retail traders interested in fractional NFTs can access it in two ways: Kucoin and Uniswap. Kucoin has teamed up with Fracton to launch the HiNFT ETF trading zone where users can trade fractional NFTs on the spot market and participate in regular fractional initial offerings.
HiNFT tokens represent a series of NFT ETFs backed by a basket of fragmented NFTs stored on-chain. These tokens allow the holder to touch each of his NFT collections instead of purchasing each of his NFTs themselves. However, the value of each HiNFT token is determined by the value of the NFT it holds.
Additionally, the Fracton ecosystem includes the Fracton Token (FT), a governance token launched in August. It serves as the platform’s primary mode of payment and provides access to split NFTs. FT tokens are available on Kucoin.
The Fracton Protocol’s innovative approach has played a key role in advancing the NFT market, and recent achievements are testament to its success. Speaking at his recent NFT NYC event, Chido, who is head of the community for Fracton Protocol, said: Reaching this volume milestone is no small feat and we are extremely proud of the achievement.
he goes on to add Our dedicated team has worked tirelessly day and night to make NFT trading accessible, secure and easy. This achievement gives us great confidence and satisfaction with the work we have done. We will be introducing more innovative products and features to further enhance the Fracton Protocol experience for our users.
Thanks to Fracton’s efforts, more individuals can easily access and trade NFTs, offering investors and collectors the opportunity to diversify and access liquidity from their collections.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Basil is an avid fan of blockchain technology and all its innovations, and is passionate about sharing this story with his audience. He has spent his 5+ years in the crypto space, specializing in research and creating his Web3 content for various media outlets around the world.
