Unicly uses blockchain technology and employs a novel protocol to fractionate and pool liquidity for NFTs. This allows users to own parts of collections and resell them as fungible tokens.
A new means of combining and splitting NFT collections
Interest in NFTs has skyrocketed in recent months and has grown overall NFT market capitalization at more than $ 430 million. Several renowned personalities, including artists, performers, and content creators, are taking advantage of this new way of monetizing their creations, collectibles, and artwork.
Although non-fungible token auctions have exceeded seven-digit bids, it is inaccessible to a larger audience due to rising operating costs. NFTs come in various forms and representations with different values and different demand values, which makes it difficult to match buyers and sellers. The fact that there can only be one of each NFT makes them much less fluid than fungible tokens.
In order to overcome the disadvantages and make non-fungible tokens easily accessible to everyone, 0xLeia, the pseudonymous founder, has behind it Uniquehas developed a unique protocol to combine, fractionate and trade NFTs with guaranteed liquidity.
Clearly redefines ownership of NFTs
The Unicly self-funded project implements sharding, a method of breaking up large tables into smaller bits (shards) to secure different sections of the current blockchain network. This method improves transaction speed and increases scalability so that users can own parts of any set of NFTs and sell those partial holdings as fungible tokens.
Unicly is an open, decentralized and community-driven platform where NFTs meet DeFi. The platform’s new protocol enables shards of collections containing multiple NFTs using the Ethereum ERC-721 and ERC-1155 standards. Any non-fungible sign within a sheared The collection is treated as equivalent, unique and irreplaceable items.
Anyone with NFTs can create their uToken, which is a collection or bundle of NFTs. After the respective NFTs have been deposited and included in the smart contract, the owner of the uToken adds liquidity and the percentage of uTokens required to unlock the NFTs. As soon as the preset percentage is reached, the NFTs are opened for bidding.
Solving the essential NFT liquidity problem
Real-time market liquidity is one of the biggest problems associated with the NFT ecosystem. Unicly’s novel protocol, based on previous attempts at fractional NFTs, provides the long-awaited solution. Unicswap, its unique AMM DEX version of the famous Uniswap protocol, enables users to build their uToken collection, allocate liquidity to the uTokens and mine UNIC tokens via UnicFarm liquidity pooling.
Since Unicly launched its mainnet a few days ago, the platform has become a hot topic in the blockchain ecosystem. Recent figures show that Unicly raised $ 3.5 million in liquidity for whitelist pools in just four days.
In addition, the 24-hour volume is more than a million dollars places Unique in direct competition with platforms such as SuperRare, Rarible and KnownOrigin. Since Unicly reached a major milestone in just a few days, the total capitalization of the NFTs listed on its platform has exceeded $ 20 million.
Backed by other large non-fungible token projects like Animoca, Aavegotchi, and Sandbox, Unicly solves the liquidity problem of matching individual buyers and sellers by letting uToken holders vote and decide whether to sell an NFT.
The proceeds from the sale will then be shared equally among all uToken holders. It removes incentives for NFT collections to depreciate through selective inventory churn and whitelisted the best NFT collections so that the liquidity pool can mine the UNIC governance token.
With this in mind, several globally recognized collections have already joined the platform. Collections like uMask saw rapid growth after NFTs were listed on the platform. Starting at $ 1 million, this collection of 85 hash masks grew 16x in value.
Other popular brands and personalities already associated with Unicly include award-winning National Geographic photographer Chris McCann, who is exhibiting his uCM Collection and collections of DokiDoki, MoonCats, WAIFU and the Nubians.
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