Last updated on July 29th, 2022 at 05:10 pm
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KuCoin is introducing the first project of the Fractional NFTs Platform which will be featured in BAYC (Bored Ape Yacht Club) collectibles. hiBAYC is an ERC-20 token representing 1/1,000,000 ownership of one BAYC in the collection vault.
Fractionalized Fungible Token Sale Details:
1 BAYC NFT = 1,000,000 hiBAYC
Initial Total Supply: 2,000,000 hiBAYC
Hard Cap Per User: 200,000 hiBAYC
Token Sale Price: 1 hiBAYC = xx USDT
Token Type: ERC-20
Token Sale Format: Flash Sale (first come, first served)
Trading Pair: hiBAYC/USDT
KuCoin will list the HIBAYC/USDT trading pair under our the NFT ETF trading zone at 10:00 on July 29th, 2022 (UTC). There is a limited sale of 2 Million hiBAYC
What is NFT ETF?
Just like KuCoin NFT ETF, it’s a USDT-dominated ETF product that marks particular underlying NFT assets. For example, hiBAYC is an ERC-20 token representing 1/1,000,000 ownership of the target BAYC in the BAYC Meta-Swap of Fraction Protocol.
What are Fractional NFTs:
A Fractional NFT is a whole NFT divided into smaller pieces. Fractional NFTs are helping increase inclusion and participation in the NFT space. This makes the NFTs accessible to more people, Fractional NFTs can enhance market liquidity, provide better price valuations, and democratization of ownership.
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Tony Chimdiuto