How NFTFY is fractionalized NFTs with DeFi products

0:24niftify and the fractionalization of nfts this is something really special that i think is much needed in the market right now and i would love for you to start it off for us with just a high level overview and the focus of nifi and what are the main solutions that your team is providing perfect so you can say that niftify is the trustless way of sharing

0:49ownership of nfts it is a permissionless and decentralized application that provides this fractionalization of non-punishable tokens so we allow anyone to generate your c20 compliance fractions fully backed by dnft and once you have your own year c20 fractions you can do whatever you want with them you can make a private offering by sharing or selling these fractions to

1:18your friends and partners for example in a private way or you can make your own ideo your own initial decks offering through the creation of liquidity bootstrapping pools using balancer protocol to provide liquidity to your new year c20s so basically we create this whole new market of new possibilities connecting the nfd ecosystem to all the defy applications wow

1:47very cool and you know nfts have become so popular in 2021 with a lot of a-list artists producing them but it seems that the fractionalization hasn't really been mastered yet and it's pretty much not even talked about is this something that your team saw as a gap and a friction in the market and did you see a demand or you know is there that product market

2:10fit already proven that fractionalization is something that is much needed in the nft space so the main problems we see in the nf ecosystem are the lack of liquidity the high investment risk and the monetization of these digital assets so we know that the lack of liquidity limits the presence of more investors in the next ecosystem right

2:38and also given these highly speculative nature of the current nft marketplace the majority of the investors they could face the risk of buying some expensive nft that could worth much less in the following days due to this high fluctuation that we face in a short timeframe and besides that those extremely high priced nfts

3:05they may not be able to be sold for their true value within a reasonable time frame so we try to solve all of these problems by bringing these powerful tool of the fractionalization process to our community definitely no that totally makes sense especially the lack of liquidity and you know five years ago when we were talking about tokenizing everything in the world you

3:32know the stock market but then moving into real world assets like cars and houses and buildings there was this talk of being able to sell large condos or skyscrapers and fractionalize that ownership but it really wasn't talked about with nfts they really weren't that much of a thing yet besides you know digital cats years ago and now it

3:55seems like we're approaching that time is this something that you know you see is the first step as nfts with digital art fractionalizing them and adding in this d5 that your team is doing and sort of like moving towards being able to have fractional ownership of expensive assets yeah for sure everyone now will be able to share these

4:23ownership of am non-fungible token so everyone will be able to divide the risk of investments to increase their portfolio variety you know because collectors will be able to purchase many fractions for many different nfps by a lower price and we have this instant liquidity that we can bring in nifty five so nibs five opens up a

4:52whole new market of possibilities connecting nft judified and especially these fraction of these shared ownership that we can provide that's a huge tool for the nft and the fico system definitely and divide the risk you can increase per volume and so on yeah and you mentioned that your team already has some decentralized financial

5:20products and you can do like loans derivatives i saw insurance in there can you just elaborate on what kind of defy tools are going to be available for the nift phy nfts great great basically nibs file allows everyone to enjoy all the other possibilities from our protocol and during the fractionalization process the user gets one million fractions of

5:47the nft and these fractions are all erc20 compliant so after that the user can create this liquidity bootstrapping pool on balancer to launch these fractions with liquidity in the market and once you have your new your situation with liquidity you have countless possibilities to interact with the other five features so basically

6:14what you need is having your own tokens your only rc20 tokens fully backed by your nfts and from that you can provide liquidity using balancer protocol and then you have liquidity with your own ears 20 tokens then you can interact with all the other defined features yeah it's very cool and i was reading into the fact that it you'll have this balancer pool

6:40as a decentralized exchange to help provide liquidity and that could mean a lot for some of these nft art pieces like people's art piece that was 69 million dollars unless you can find one person you know you're able to buy one one millionth of the nft obviously that's gonna open the market up a lot i'm i'm curious to know is balancer the only place where you can

7:03get liquidity or can you use any decentralized exchanges like unisop sushi swap or any other of the defy ecosystem so basically we encourage the user to use balancer protocol to provide this initial liquidity because balancer has some special pose that can help the user to launch these c20 tokens

7:31with liquidy in the market so but as the user gets their ear c20 compliant fractions fully backed by the nft these fractions are all e years of 20 and you can you can use them in all the other texts like uniswap sushi but in this first moment we encourage the users to create these liquidity boot chatting

7:59bootstrapping pose using balancer protocol and provide liquidity there because balancer has some special tools that will for sure make a huge difference definitely good to know and this is a really interesting match-up with nfts and nft collectors and investors merging with decentralized finance yield farming loans interest and there's not always an overlap of you

8:27know nft collectors are not always using d5 and d5 people aren't collecting nfts because it is a different type of investing or a different type of collecting did you guys take into that into account when you were developing the system to make it as easy as possible for people that are using nfts to be able to use these financial products and take advantage of those as an nft

8:49collector yes we wanted to democratize the access to top and high value and nfts so we provide this collective ownership so you can purchase fractions of many nfds and we know that we needed to do that in a very simple way so we have these three simple steps which is the fractionalization the redeem and the

9:17claim that runs totally decentralized and it is simple steps the user just needs to click a few times in the button and yeah it's very easy we designed that platform very user friendly you know so that the user has the better experience as possible because we cared about that we like i told you

9:43we wanted to democratize the excess so we needed to do something very easy to use and you see once we launch that everything is so clean and very easy to use i hope you enjoyed that's good to know and as a part of the creating liquidity or you know doing an ido with your nfts i'm guessing that the nifty token because there is a erc fungible

10:12token as well as as the nft tokens is used was used somehow in the ecosystem can you talk about the nifty token does it create a sustainable ecosystem for everyone in the nift phi you know network for sure the niftify token is the entire basis of the economy related to our ecosystem and it will act as the liquidity base for the new fractions

10:39generated in the protocol to boost community to boost liquidity in this ecosystem of many newly created year situations and all the posts containing the nifty token will automatically participate in our liquidity mining and rewards programs so for example let's suppose that you fractionalized your nft and then you created a liquidity bootstrapping pool

11:05to provide liquidity to your fractions if you use our token as collateral your pool will automatically be participating in our liquidity mining program in our apartment program and all the other participants that will be providing liquidity to this pool there will be a large boat participate too and also to receive a drops of fractions of all the most

11:31valuable nfds in our platform so we have many incentives to all the users who provide liquidity and use our token that's great and i know that the token launch is coming up soon with pools can you talk about the token launch and then the upcoming launch of the platform as well sure we will have our ido on pools tomorrow may 5th

12:01and after that on monday next monday may 10th we're going to launch our liquidity bootstrapping pool on balancer and it will last 36 hours and in a few days later we're going to release officially our platform so a few days after the official token distribution token release the platform will be available for everyone to use

12:29and to take a look at how we made things so simple that's great and what do you what do you see in the long term to for the widespread adoption of fractionalized nfts in the nifty platform what do you think will be one of the key factors to success to launching the platform and having a lot of adoption so having this strong and engaged community

12:57is the basis for any protocol right so we are going to work hard to achieve that and we will make sure that the protocol operates constantly with liquidity and besides that we are planning to have this complete integration of balancer protocol in our platform so that the user will be able to have a very simple experience of creating liquidity bootstrapping

13:23posts there without leaving nifty and also we want to make great partnerships with some of the top defy and nft protocols and bring many new features to our community so basically we're focusing a lot in the community engagement building a global and strong community definitely and if there are viewers that are looking at getting involved in the

13:50community and learning more about the nifty token and the upcoming launch of the platform what's the best way for them to learn more you can go to nifty.org and see some useful information on our landing page and there you will also find a button that will direct you to our official group on telegram and you can also follow us on twitter nifty show

14:17and read our articles on medium there are lots of great things there great well i will leave all of those links in the description box below for the viewers as well all the best with the launch of the nifty token the platform the fractionalization and the d5 financial products i'm really looking forward to seeing it live and testing it out as well so thank

14:40you so much for your time and let's follow up in the near future thank you so much ashton it was a great interview and thank you so much for this opportunity it was great you