Baskets allow you create fraktionalized collections of NFTs which might be considered as NFT Indexes or NFT ETFs
Numerous use cases
For example, you can create a basket of Ice Degen Ape Academy Apes, or Zombie MBS, or Doorag-wearing Thugbirdzs. Overall, it diminishes the risk as you own a fraction of a more diversified group of assets.
Collectors and capital groups can fraktionalize NFTs to create financial instruments allowing retail investors that trust them invest in diversified portfolios.
It also creates flexibility for DAOs to convert their treasuries into a powerful reward tool for its members. Have hard working Degen DAOO members? Buy 5 space apes, fraktionalize them, bestow them on your contributing members over time.
How to create a NFT basket?
Process is very similar to one described here. This time select multiple NFTs that you want to fraktionalize, set Vault name (Token name), the ticker name ($symbol, like $BTC, $ETH, etc.), the total desired supply and the buy out price and you’re ready to fraktionalize!
What happens if…
… someone initiates the buy out and wants to purchase your NFT or basket of NFTs?
Simple. Our auction mechanism is instantly triggered and will be active for 7 days during which price discovery of the assets will be possible. On the 7th day, the auction enters the closing phase and the time is prolonged by 12 hours in the event of a bid happening on that day.
… I want to add another NFT to my fraktionalized NFT or basket of NFTs?
Then let’s get in touch and we’ll do it together! Adding an NFT to the vault changes its intrinsic value, so it’s a tricky operation but we’ll be happy to support you with it. We’re playing a safe guarding role here together with the vault owners to ensures that the communities are not negatively impacted by changes in valuation of the vaults or by changes of content.
… During fraktionalization one of transactions failed and I can't find the vault?
We are still early, such thing can happen, it makes your vault "unfinished". Please read this to proceed.