Nftfy NFTFY Price $ 0.00162

Nftfy is a permissionless Decentralized Application (DApp) that fractionalizes Non-Fungible Tokens, generating ERC20-compliant fractions fully backed by the NFTs. Our protocol was designed to solve the main problems in the NFT ecosystem, including the low liquidity, investment risk, and monetization of assets.

The lack of liquidity is one of the reasons for limiting the presence of more investors in the NFT ecosystem, and considering the high subjectivity of these assets, anyone could face the risk of buying an expensive item that could be worth much less in the next few days. In that way, NFTs are worth as much as someone is willing to pay for them – which can be a huge amount or almost nothing.

Nftfy's main objective is to allow everyone to launch their own ERC20s with liquidity in the open market. It brings many benefits to the NFT minters, collectors and speculators, by promoting instant liquidity and pricing for the NFTs, fair price, portfolio variety, and a new market of possibilities with other DeFi applications. In that way, Nftfy provides the collective ownership of the NFTs and brings liquidity allied with game theory into the NFT and DeFi ecosystem.

Once your NFT is staked in our Smart Contracts and the Fractionalization process is completed, you receive one million Fractions of your NFT and get instant access to them in your wallet. From that moment, you will be able to make your own Initial Dex Offering, by creating a Liquidity Bootstrapping Pool using Balancer protocol to provide liquidity to your Fractions. In that manner, you create a whole new market and allow anyone to trade your Fractions in the open market. It is a simple, instant, and trustless way of sharing ownership of NFTs.

$NFTFY is the token of the protocol and can be farmed by providing liquidity to different pools containing Fractions and $NFTFY.

How Nftfy works?

Nftfy allows anyone to generate ERC20 compliant Fractions fully backed by a Non-Fungible Token, providing a trustless way of sharing ownership of NFTs and creating a new market to their Fractions.

There are three main processes in Nftfy responsible for providing a Minimum Viable Fractionalization:

• Fractionalization: the user stakes the NFT in our Smart Contracts, sets the Exit Price, and generates 1,000,000 Fractions backed by that NFT.
• Redeem: anyone can pay the Exit Price and receive the NFT into the wallet.
• Claim: all the other users who still hold Fractions of the redeemed NFT can be properly remunerated.

Token Utility

The $NFTFY token has an essential utility in the Nftfy Ecosystem. Some of the use cases include:

Utility Token in Nftfy Ecosystem

• Since numerous new ERC20s are circulating in the DeFi market, the $NFTFY token acts as the liquidity base (collateral) for these new Fractions that seek recognition in the Liquidity Pools. Each pool created must have $NFTFY in its composition to participate in our rewards mechanisms and to be listed in the "Pools" section.

Nftfy Liquidity Providers Rewards

• All liquidity providers will be eligible to participate in the liquidity mining program, which will be distributed over six years. More details on the liquidity mining structure will be announced only after the TGE.