IX Swap Expands Reach Into Fractionalized NFT Market
Singapore, Singapore , Nov. 29, 2021 (GLOBE NEWSWIRE) —
IX Swap, a decentralized exchange for security tokens and tokenized stocks, has announced a new initiative that will allow users to bid and purchase fractionalized NFTs (f-NFTs) on its platform. F-NFTs allow smaller investors to pool resources and purchase fractional interests of an NFT.
When purchasing f-NFTs on the IX Swap platform, NFT owners will be able to retain ownership while freeing up liquidity. Additionally, fractionalized NFTs will allow more people to be involved in the fast-growing NFT market.
“Currently, lack of market prices and volume in the NFT market is making it hard to determine NFT valuations. Also, significant capital outlay is required to obtain exposure to high-priced NFTs. IX Swap wants to fix these and other problems by introducing fractionalized NFTs on our platform,” said Aaron Ong, Co-Founder of IX Swap.
Other issues directly related to the current NFT market include high slippage during NFT trading due to illiquidity of high-priced NFT items, and low capital efficiency due to quality of NFT collaterals. F-NFTs, which are essentially fungible tokens tied to non-fungible, unique digital assets, allow to address these problems.
Buyers of f-NFTs on the IX Swap platform will possess a fraction of the NFT, essentially a percentage of the original ERC-721 asset, which will be equal to the value of their ERC-20 tokens divided by the total number of ERC-20s minted when the NFT was initially locked into the smart contract.
With fractionalized NFTs on the IX Swap’s platform, owners would benefit from increased utility through DeFi apps, positive price correlation and curated fees. Ultimately, F-NFTs would help build a larger community with lower floor prices for new NFT investors.
About IX Swap
IX Swap is the first decentralized exchange for security tokens and tokenized stocks providing liquidity pools and automated market makers for these assets. The platform will facilitate the trading of security tokens through licensed custodians and security brokers who will provide actual ownership and claim over these real-world assets. To learn more about fractionalized NFTs, please reach the IX Swap team here.
SINGAPORE, November 29, 2021
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