{"id":6285,"date":"2023-04-21T14:30:27","date_gmt":"2023-04-21T14:30:27","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/04\/21\/fracton-protocol-trading-passes-the-3-billion-mark-nft-plazas\/"},"modified":"2023-04-21T14:30:27","modified_gmt":"2023-04-21T14:30:27","slug":"fracton-protocol-trading-passes-the-3-billion-mark-nft-plazas","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/04\/21\/fracton-protocol-trading-passes-the-3-billion-mark-nft-plazas\/","title":{"rendered":"Fracton Protocol Trading Passes the $3 Billion Mark – NFT Plazas"},"content":{"rendered":"

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Industry leading NFT fractionalization platform, Fracton Protocol<\/a>, has achieved a significant milestone by surpassing $3 billion in trading volume on Kucoin, a mere 10 months after launching its line of fractiona<\/span><\/span><\/span>l<\/span><\/span><\/span> hiNFT<\/span><\/span><\/span> tokens<\/span><\/span><\/span>. The platform has enabled retail traders to access high-value NFT collections, unlocking liquidity in the process.<\/p>\n

Although the NFT market has made significant progress in recent years, unlocking liquidity within collections has remained a significant challenge. This is primarily due to the fact that non-fungible tokens are not divisible by nature. However, Fracton Protocol has revolutionized this narrative through its innovative solution of fractionalization.<\/p>\n

By breaking down high-value NFTs into small fractions of fungible tokens, Fracton Protocol has made it possible for anyone to own and trade them. This approach has made it easier for retail traders to access high-value collections such as BAYC or CryptoPunks, previously only accessible to a select few.<\/p>\n

How Fracton Fractionalizes High-Value NFTs<\/h4>\n

Fracton\u2019s fractionalization infrastructure centers around meta-swap, a tool that breaks down high-value NFTs<\/a> such as BAYC into 1,000 ERC-1155 tokens, resulting in individual people\u2019s BAYC NFTs. Each of these NFTs is further divided into 1,000 ERC-20 tokens known as HiBAYC. This process applies to all NFT collections using the function, effectively creating Hi-versions of themselves, which enables even traders with just 1 USDT to own fractions of their favorite collections.<\/p>\n

So far, Fracton has already broken down over 25 blue-chip NFT collections and make them accessible to retail investors. A few 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.<\/p>\n

Retail traders interested in fractionalized NFTs can access them via two avenues: Kucoin and Uniswap. Kucoin collaborated with Fracton to launch a HiNFT ETF trading zone where users can trade fractional NFTs on the spot market and participate in regular fractional initial offerings.<\/p>\n

HiNFT tokens represent a series of NFT ETFs backed by a basket of fractionalized NFTs stored on-chain. These tokens allow holders to gain exposure to their respective NFT collections, instead of having to buy the individual NFT itself. However, the value of each HiNFT token is determined by the value of the NFTs it holds.<\/p>\n

In addition, the Fracton ecosystem includes a governance token, the Fracton Token (FT), launched in August, which serves as the primary payment mode on the platform and provides access to fractionalized NFTs. The FT token is available on Kucoin.<\/p>\n

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Bringing NFTs to a Wider Audience<\/h4>\n

Fracton Protocol\u2019s innovative approach has played a significant role in propelling the NFT market forward, and its recent achievement is a testament to its success. According to Chido, the community head at Fracton Protocol, who spoke at the recent NFT NYC event, \u201cReaching this trading volume milestone was no small feat, and we are incredibly proud of our accomplishments.\u201d<\/em><\/p>\n

He goes on to add \u201cOur dedicated team has worked tirelessly day and night to make NFT trading accessible, safe, and easy, and this achievement gives us immense confidence and satisfaction in the work we\u2019ve been doing. We will introduce even more innovative products and features, further enhancing the Fracton Protocol experience for our users.\u201d<\/em><\/p>\n

Thanks to Fracton\u2019s efforts, more individuals can now easily access and trade NFTs, providing investors and collectors with the opportunity to diversify and access liquidity from their collections.<\/p>\n

Follow Fracton Protocol on Twitter >> Here<\/a><\/strong><\/p>\n

Check out its game-changing platform >> Here<\/a><\/strong><\/p>\n

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*All investment\/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.<\/em><\/small><\/p>\n

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\"basil-<\/div>\n
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Basil is an avid fan of blockchain technology and all its innovations, and he is passionate about sharing this narrative with his audience. He has spent over five years in the crypto space, specializing in research and creating Web3 content for various media outlets around the globe.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n