NIFTEX - a blockchain project, where coin owners can sell any NFT (platform token) for ETH. New users pay less for valuable NFT.
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Description of NIFTEX
NIFTEX - a very promising NFT token market. The uniqueness of each token makes trading them a longer and more expensive process than trading cryptocurrencies.
That's why the company has created a platform, which creates fractions for any NFT and anyone can sell it. NIFTEX is designed to be a self-service platform for anyone, who wants to fractionate their NFT. You decide what percentage of coins you want to sell and at what price. NFT is stored in a proven smart contract and ERC20 fractions are issued for it.
What are fractions?
Fractions have many advantages. At its core, it is an ERC20 token that functions like any other token in Ethereum, with one exception - the buyback offer. The easiest way to create fractions from NFT - to go to the resources page in OpenSea, copy the URL and paste it into the "New Launch" page. The advantages of fractions:
| Real estimate | Each time a fraction is sold on the open market, this updates the total value of the NFT. This is something that has never been available in the NFT space. |
| More democratic | Since you can buy NFT shares, access to valuable objects has expanded from one to an almost infinite number of collectors. This access is also much cheaper. |
| More liquidity | More buyers and sellers mean better markets. Fractions also allow the use of scarce digital assets. |
As the control extends to potential stakeholders, new concepts are emerging and new models for asset management are opening up.
Platform economics
Launches have a fixed fee of 0.045 ETH to help with the management of implementation costs and launch quality. In addition, 1% of newly created fractions are reserved by NIFTEX to focus on community building and marketing. Users are solely responsible for sending transactions on the Ethereum network, as well as providing liquidity to Shards. As of June 2020, NIFTEX will support the new Shard markets only by creating an exchange for Uniswap and OpenSea, and can provide further assistance in new launches. All compatible with ERC-721 can be used to create fractions.
Additional Information about NIFTEX
There is no White paper on the platform, but in the next update, the company wants to add it. If you have any questions, you can discuss them with the community on social networks and chat rooms of the game.
Also, there you can find the next updates, promotions and participate in contests. Smart contracts of the platform have passed an internal audit of Trail of Bits in early April 2020.