There’s a new defi trend in town — factionalised NFTs, whereby NFTs are tokenised into an ERC20 to allow multiple owners and traders.
Almace is the rare axie recently trading for megabucks on Niftex’s new NFT sharding platform this week, at one point being valued over 500 eth from an initial 40 eth valuation. But there’s a problem — those shards can’t be used for anything other than trading.
As co-owner of Almace, I agreed to try out Niftex. We listed 50% of our shards in the pre-sale phase at a fixed price and provided liquidity, so quite a risk even if they sold out. We were told to allow two weeks for those to sell — they sold in hours. Then the price pumped, 4chan noticed, volume went crazy, and we made the news!
However, now Almace cannot be used unless there is an NFT buy out - the Almace shards are purely speculative. I, and others including Niftex, want to find ways to make both shards and original NFTs useful. I’ve suggested doing an experiment in just that.
My most treasured NFT is both art and game related. Baus was a fabulous game boss from the Neon District team who are releasing a whole bunch of Neon District work on Matic from next month through the rest of the year. I bought Baus for $22,800 (141 eth) for a few reasons, including experimentation. I’m fortunate in that I was an early ether investor and could afford to be playful. Now is the time I to do that.
Instead of doing the typical thing of putting a high price on Baus when ND releases or hodling for years, I propose sharing this NFT with the community in a way that has utility and has value.
10,000 $BAUS tokens could be issued, with the first 3000 tokens sold by Niftex at a 30% discount on my initial purchase price of $22,800 – thats 0.0067 Eth per $BAUS at current eth prices. These tokens represent ownership of the Baus NFT, which is locked up until subject to a buy out through the Niftex smart contract.
$BAUS tokens would be usable within Neon District’s forthcoming launch on Matic, starting at only 1 $BAUS, and I’d be offering my own rewards and prizes to $BAUS owners & contributors to celebrate and promote the Niftex listing.
Will I go ahead? I’m undecided — I need more feedback. So now it’s over to you.
Follow me on Twitter if you want to be the first to hear about Baus or want to earn $BAUS rewards for free!
EDIT (15 July): Market allowing, I’ll launch $BAUS with a major Neon District update in late Q3 or early Q4.