They are Bridgesplit. They have launched tokens already such as $DRGNZ, $DAOJONES, $SAC, etc. This is a curated index token! This is the decentralized finance stack for NFTs, unlocking billions of dollars in liquidity and new use cases for the asset class. Floor Indexes is a non-fungible token financial primitive introduced by Bridgesplit to create a novel liquidity option for collectors and collections. Floor Indexes are a layer of fungibility on top of fractionalization.
Fractionalization of an NFT is a valuable tool because selling partial ownership in an asset helps owners reduce risk and create some liquidity while maintaining some exposure. On the converse side, it offers users the ability to get exposure to assets that are otherwise out-of-budget. However, fractionalization alone carries challenges.
Questions around governance, utility, and pricing can make it a confusing or intimidating financial product for many users. BridgesplitCoin leads to low volumes on fractionalized assets and a worse user experience. In practice, only assets coupled with significant marketing are good candidates for fractionalization. Even then, liquidity in those markets is not sustained.
The live Bridgesplit Brand Index price today is $0.340862 USD with a 24-hour trading volume of $10,938.88 USD. They update the BBI to USD price in real-time. Bridgesplit Brand Index is up 4.76% in the last 24 hours. The current CoinMarketCap ranking is #5323, with a live market cap of not available. The circulating supply is not available and a max. supply of 100,000 BBI coins.
If you would like to know where to buy Bridgesplit Brand Coin Index at the current rate, the top cryptocurrency exchange for trading in Brand Index stock is currently Raydium. You can find others listed on crypto exchanges page.
What it solves
Immediate liquidity for holders
Selling an NFT today, especially a high-value NFT, can take days if not weeks. Depositing to the index offers sellers immediate liquidity. DRAG can be immediately swapped for SOL in the AMM for holders who want their liquidity in SOL.
Liquidity option for holders of rarer NFTs
Protocols like NFTX demand holders swap their whole NFT for 1 token to represent the pool. This forces sellers of rarer or above-floor NFTs to sacrifice all added upside for immediate liquidity. With Floor Indexes, a seller may sell 20% of their asset at floor to get some liquidity but sell the whole asset later and still retain 80% of the upside.
Composable and liquid NFT exposure
By aggregating NFT liquidity and minting a fungible token which mechanics in place to track the value of the collection, Floor Indexes create a token with NFT exposure that can be used in other DeFi protocols. This enables new financial products like derivatives on top of these tokens.
Passive income on NFT exposure
Due to the composability and fungibility described above, holders of an index token can provide liquidity to the index token-SOL pool to receive trading fees as an LP. This creates the first DeFi passive income opportunity that can be earned with exposure to NFTs.
Blue-chip exposure at lower dollar cost
Bridgesplit Brand Coin Floor Indexes offer a solution for investors looking to get either lower-dollar or liquid exposure to the floor value of a collection.
Index tokens represent the basket of fractions of assets from a collection and have different mechanics to facilitate 1000 index tokens trading at approximately the floor value for the collections. Index tokens can offer traders liquid and smaller-dollar exposure to the floor value of a collection.
When fractionalizing an NFT, there are multiple customizable parameters, including:
Total supply : the number of fractions to split the NFT into. Collectors can hold as little of 0.01 fractions
Ticker: this is the symbol for the fractions that will appear on Phantom or sites like SolScan or CoinGecko (i.e $SOL for Solana)
Fraction Market Types
Bridgesplit Brand Coin with fractions of an NFT can initialized up a market to trade the fractions. There are two different types of markets that can be initialized, and both can exist at the same time. As a fraction holder you can provide liquidity to the AMM and earn fees or place orders on the orderbook. As a collector, you can purchase fractions from these markets which are visible directly on the vault page as long as the NFT has not been bought out.
Bridgesplit Raydium powered AMM enabled anyone to trade between SOL and fractions at a price automatically set by supply and demand. Read more about pricing on Raydium’s AMM here. An AMM is a swap-style market that enables users to instantly trade fractions for SOL. This type of market provides for an intuitive and familiar user experience. However, the initializer and liquidity providers must provide liquidity for both the fractions and SOL, which all initializers may not be able to afford.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.