DODO Introduces Fractional NFTs Through DODO NFT

On May 4th, BreederDODO announced the launch of DODO NFT. DODO NFT aims to help small investors and collectors in the NFT ecosystem overcome their inability to purchase their most desired items due to prohibitive prices. DODO NFT will fractionalize NFTs to reduce investor costs, meaning that NFTs will be available to a wider purchase base.

By
Ifeanyi Egede
on
May 5, 2021
Category:
BSC News

DODO NFT - Fractionalized NFTs

While the Non-Fungible Token (NFT) ecosystem has grown tremendously, many small investors and collectors have found it difficult to acquire their most wanted items due to prohibitive prices. As a leading liquidity provider, DODO has launched a solution to solve this problem with the recently announced introduction of DODO NFT, a project that fractionalizes NFTs. This solution involves putting the NFT in a vault and fractionalizing it into fungible tokens (by issuing ERC20) to create ownership of the vault. This enables users to trade their fungible ‘shares’ of the vault via DODO's Proactive Market Maker (PMM) algorithm. This process will allow anyone to buy a share of such NFTs based on the amount they can afford.

Advantages of Being on DODO NFT

DODO's PMM offers three main advantages for its investors:

  • Single-sided liquidity, initial capital commitment isn't required
  • Various price curves for different market conditions
  • Trading fee can be customized

Fractionalizing the NFT into fungible tokens and putting it in a PMM enhances the compatibility of these fractions with other DeFi protocols. This makes it possible for each fraction to be traded for any tokens, be used as collateral, or access trading routes. Creators and communities can use the DODO NFT to create personalized terms for bootstrapping NFTs' liquidity, incorporating any flexibility that suits each project. 


About DODO

Source

DODO is an on-chain decentralized exchange/liquidity provider built on the platform's PMM algorithm. DODO recently partnered with IOSG to kick off the latter's Kickstarter program. The IOSG Kickstarter program aims to provide funding of up to $100k and mentorship to early-stage developers in the web 3.0 network. DODO NFT is a new protocol solely developed for liquidity and innovation on the NFT side of the market.  The unique project allows anyone to own a share of the NFT market regardless of the amount they own. Various other DODO solutions cater to other market strategies in the blockchain metaverse. Interested investors can learn more about DODO here, get fast updates about DODO by following them on Twitter, and for discussion or chat with any member of the DODO ecosystem, get in touch via Telegram or Discord.


Closing Thoughts

With the availability of DODO NFT, collectors and small investors can own any NFT they desire, at least in fractional amounts. Investors who enjoy NFTs have been all over the DODO NFT launch, especially considering the current craze surrounding the digital asset. This project will no doubt increase DODO’s DEX ranking, and all who are interested in NFTs should at least check the platform out once.


Tags:
No items found.
Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile crypto writer and researcher on fintech, the blockchain and emerging technologies. He has several published works online and in the print media. He loves reading, research, traveling, meeting people and football. When he is not writing, he spends time with his lovely wife and kids

Text Link

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspendisse varius enim in eros elementum tristique. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat. Aenean faucibus nibh et justo cursus id rutrum lorem imperdiet. Nunc ut sem vitae risus tristique posuere.