NFT holders and projects can add their NFTs into collection specific NFT Pools in order to receive the associated fungible pool token (in exchange for their contribution to the pool)
3 main utilities for NFT holders and collections
Sell an NFT to the pool : pool tokens can then be instantly swapped for $SOL or $USDC liquidity in the underlying Raydium liquidity pool
Buy or swap an NFT from the pool : pool tokens can be used to redeem any specific or random NFT currently available in the pool.
Earn sustainable yield from the pool : pool tokens can be used to add $TOKEN-$SOL liquidity in the underlying Raydium liquidity pool and then staked in order to earn 80% of the fees generated by each interaction with the pool . The pool generate fees based on the pool activity (buys, sells, and swaps)
These 3 distinct utilities for NFT Pools empower NFT holders & collections by enabling them and their community to not only buy, sell, and swap NFTs instantly, but also earn passive income from their idle floor NFTs
NFT pools are ideal for floor price NFTs which represents the majority of the trading volume for most collections. Any collection can have its own NFT pool
Every interaction with the pools is rewarded with $FRKX utility token as a volume incentive