Fracton Protocol Achieves $3B Trading Volume Milestone

Share This Post

Fracton Protocol is celebrating a remarkable achievement. Just 10 months after introducing hiNFT tokens, the pioneering non-fungible token (NFT) fractionalization platform has exceeded $3 billion in trading volume on Kucoin.

Quick Takes: 

  • Fracton Protocol surpasses $3 billion in trading volume for fractional hiNFT tokens on Kucoin within 10 months.
  • The platform enables NFT collectors to invest in OG collections like CryptoPunks with as little as 1 USDT.
  • Fracton’s growing ecosystem includes a governance token (Fracton Token (FT)), and partnerships that expand the reach of fractionalized NFT trading.

Exploring the Need for Fracton Protocol: What Is It? 

KuCoin partnered with Fracton Protocol in July 2022, to launch the HiNFT ETF trading zone. Users can trade fractional NFTs on the spot market and participate in regular fractional initial offerings.

In total, Fracton fractionalizes 25 OG projects, including Doodles, Azuki, Otherdeeds, Sandbox LAND, and Bored Ape Yacht Club. The platform divides the high-value NFTs into smaller NFTs, making them accessible and tradable to more than one buyer.

As a result, the company has reaped $3 billion in trading volume in just ten months following success.

Technicalities Behind Fracton Protocol 

Fracton makes the fractionalizations of NFTs possible via meta-swap. The tool converts high-value digital assets into 1,000 ERC-1155 tokens.

The digital assets are then split into 1,000 ERC-2O tokens called HiBAYC. This process creates a Hi-version of all NFTs. Consequently, traders with as little as 1 USDT can own a fraction of blue-chip collectibles.

The tokens represent numerous NFT ETFs backed by a basket of on-chain fractionalized NFTs. This exposes holders to their respective NFT collections without buying the individual NFT. Additionally, the value of each HNFT token is determined by the value of the NFTs it represents.

The Fracton ecosystem also features a governance token. Fracton Token (FT) offers primary payment mode access to fractionalized NFTs on Kucoin.

Basically, Fracton Protocol makes NFT ownership more accessible. The tool allows collectors to invest in high-value collections with minimal investment.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews, and more.


Related Posts

Void 2122 to Unlock a New Era of Combat Card Gaming with NFTs

The pioneering force in the Web3 landscape, Void 2122,...

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its... Returns With Surging NFT Trading Volumes, the decentralized social media app, has shown an...

CoinMarketCap and HELLO Labs to Premiere TV Series, Killer Whales

An official trailer for the Web3 television series 'Killer...

Machi Proposes 11M $APE Sends NFTs to Museums Worldwide

An intriguing week-long vote surrounding OG NFTs kick-started today! Machi Big Brother,...

Related Posts

Dookey Dash Pro-Gamer Claims Being the Winner

BAYC members celebrate a Dookey Dash player claiming he...

Top 10 NFT Marketplaces to Look Out For and Why

How numerous NFT marketplaces make hunting for digital collectibles...

Wow Bao Leaps into Metaverse with Innovative NFT Loyalty Program

Leading Asian food chain Wow Bao has stepped into...

Milady Maker NFT Review – A Virtual World of Minecraft

Milady Maker opens up the virtual world of Minecraft Milady...

The Top 10 Most Expensive NFTs Sold

7 out of the 10 most expensive NFTs sold...

What is an NFT Record Label?

An NFT record label is a type of record...