Fracton's Solution
Fracton protocol is built with the goal of extracting and maximizing the financial attribute out of NFTs. Therefore, the team decided to charge negligible fees for fractionalizing and redemption NFTs, while focusing on revenue streams that only being the gold standard of fractionalized NFTs can generate.
The Fracton team has invented an elegant design where NFTs can be fractionalized and repackaged to ERC-20 tokens in a gas-efficient and permissionless way, where each ERC-20 token is backed by 1/1,000,000 of the original NFT. The gas fee required to interact with Fracton is generally 20%-50% cheaper because of the intervention of Fracton’s proprietary stateless system while redeeming NFTs is a pool-less swap process where the fairness is ensured by Chainlink’s Verified Random Function.
As of writing, the fraction protocol has successfully:
- Fractionalized more than 6000 ETH worth of blue-chip NFTs
- Created and listed 20 blue-chip NFT ETFs on Kucoin and Uniswap.
- Generated an average of $5M daily volume for each NFT ETF listing.
- Listed its governance token $FT on Kucoin.