Floor Protocol allows fractionalize NFTs into micro-tokens called μ-tokens.
The main benefits of fractionalization are increased availability of NFTs, increased liquidity, preservation of authenticity, new sources of income, and attracting more investors and collectors.
Floor Protocol provides two methods to fragment NFTs into 1 million μTokens - the Vault and Safeboxes.
Users can deposit NFTs into vaults to relinquish unique ownership of that NFT, or into Safeboxes to retain ownership with a Safebox key.
A vault is a storage center where users can deposit their NFTs for fragmentation into publicly traded μ-tokens. NFTs in the vault can be redeemed randomly by any μ-token holder.
Safeboxes are personal storage where users can deposit NFTs while retaining ownership. Accessing them requires staking $FLC tokens to access and costs $FLC to rent.
In Safebox, your NFT premium is separate from Floor Value, allowing you to gain more control over your NFTs.
Vault fractionates by giving up ownership of the unique NFT. Safebox issues μ-tokens, but allows users to retain ownership of a unique NFT with a Safebox key.
Vault: If you put Azuki #1011 into a vault, anyone can claim the NFT you put into the vault with 1,000,000 μAzuki-tokens.
Safebox: To get Azuki #1011, you must spend 1,000,000 μAzuki tokens and purchase a Safebox key from you using various tools such as Private Deals, Auction or Raffling.
Floor Protocol has also developed the BT404 standard
BT404 combines the best aspects of the ERC20, ERC721, ERC404 protocols to create a new standard that revolutionizes NFT availability and liquidity.
ERC-404 standart is a hybrid that combines the features of ERC-20 exchangeable tokens and ERC-721 non-exchangeable tokens (NFTs). This standard facilitates the fractionation of NFTs by allowing holders to split their digital assets into separate pieces.
BT404 leverages the core capabilities of ERC404 and augments them with additional features that aim to provide security, liquidity and convenience to NFT holders. These enhancements include:
- Lock NFT: Avoid losing your favorite NFTs that are transferred as ERC20.
- Unlock NFTs: The ability to exchange your unlocked NFT for another unlocked NFT on the P2P Marketplace whilst earning a share of fees from Seeding.
- Seed NFTs: Unlocked NFTs can be used to seed the P2P Marketplace.
- P2P Marketplace: Trade, buy and sell NFTs directly from others.
- Profit Sharing: Profits made in the P2P Marketplace are shared among those who have unlock (seed) their NFTs.
- Native peer-to-peer marketplace of NFTs. This marketplace functions as a dashboard where users can manage their profile, buy, sell, lock and unlock (seed) their BT404 NFTs. Unlocked NFTs create a diversified pool of listings available for purchase directly from wallets. Each transaction incurs a small premium that is shared among all participants who have unlocked their NFTs, incentivizing the storage and exchange of NFTs.
