Fracton Protocol, a leading platform in NFT fractionalization space, has achieved a major milestone by exceeding $3 billion in trading volume on Kucoin in just 10 months since launching its line of fractional hiNFT tokens. Fracton Protocol is one of the few platforms enabling retail traders to access high-value NFT collections and unlocking liquidity in the process. While the NFT market has progressed significantly in recent years, unlocking liquidity within collections has remained a significant challenge as non-fungible tokens are not divisible by nature. However, Fracton Protocol has changed this narrative with its innovative solution of fractionalization.
Fracton Protocol has created an infrastructure for fractionalizing NFTs, with meta-swap being the tool that breaks down high-value NFTs such as BAYC into 1,000 ERC-1155 tokens resulting in individual people’s BAYC NFTs. Each of these NFTs is then further divided into 1,000 ERC-20 tokens called HiBAYC. Retail traders interested in fractionalized NFTs can access them via two avenues; Kucoin and Uniswap. Kucoin partnered 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. Fracton has already broken down over 25 blue-chip NFT collections, including CryptoPunks, BAYC, MAYC, Doodles, Azuki, Fidenza, Chromie Squiggles, Otherdeeds, Sandbox LAND, Gazers and even rare Ethereum Name Service domains such as 999 Club.
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. Fracton’s 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.
Fracton Protocol’s innovative approach has played a significant role in propelling the NFT market forward, and its recent achievement is a testament to its success. The company’s efforts have enabled more individuals to easily access and trade NFTs, providing investors and collectors with opportunities to diversify and access liquidity from their collections.
Chido, the community head at Fracton Protocol, recently spoke at the NFT NYC event and said “Reaching this trading volume milestone was no small feat, and we are incredibly proud of our accomplishments. Our dedicated team 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’ve been doing. We will introduce more innovative products and features, further enhancing the Fracton Protocol experience for our users.”
In conclusion, Fracton Protocol’s achievement of surpassing $3 billion in trading volume confirms how successful the platform has been in making NFT trading more accessible, safe and easy for everyone, even with a small investment amount. The platform’s innovative approach has brought NFTs to a wider audience and has enabled retail traders to access high-value collections with ease, enabling them to unlock liquidity in the process.
