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Fraktionalize DAA#544
No apes were harmed in the fraktionalizing of this NFT.
In this comprehensive step-by-step guide on how to unlock the liquidity of your NFT, we will be going through each step together, from the fraktionalization of your NFT, to the creation of a liquidity pool to allow your fraktions to be traded and swapped! To illustrate our guide, we will be fraktionalizing Mr. Degen Ape #544.
Got your NFT? Got SOL in your wallet to cover some of the fees? Then buckle up, get on https://www.fraktion.art and brace yourself because we’re about to dive head first into this and it’s going to be magical.
Let’s unlock some of that liquidity, shall we?!
fraktion.art's landing page
First, let’s connect your wallet to https://www.fraktion.art. On the main page, in the top right corner, you can click on “Connect Wallet” - we’ll be using Phantom in this guide but fraktion.art supports a wide range of wallets. Once your wallet is connected, you can click on the purple button “Fraktionalize”.
"Fraktionalize" Page View
You will then be redirected to a list of NFTs that you own and are linked to the wallet that is currently connected to the site. From that list, select the NFT you want to fraktionalize and you’ll immediately be prompted with a sliding box from the right that is very straight forward in what you need to fill in the proceed further:
SUPPLY - between 1,000 and 100,000,000, we’ll be using 10,000 for our ape.
TICKER - the symbol of your fraktions, 4 characters max. In this case, a fitting $KOBE
BUYOUT PRICE - in SOL, the value at which the NFT could be bought out, 650 SOL here.
Once all three of those fields have been filled in, you will see the price per fraktion that will be generated by your inputs - 0.06 SOL per fraktion in our case (keep that in mind for later as it will be important!)
We’re now all ready to proceed further with the fraktionlization of our beloved ape. Click on “Continue”.
You will now need to approve two consecutive transactions to complete the fraktionalization of your NFT. The first transaction is about the network fee of the transaction (between 0.001 and 0.0001 SOL) and the second transaction is about the fee applied to the fraktionlization of the NFT, which is 0.5% of the buyout value, with a minimum of 0.5 SOL. In our example, we can see it cost us 3.2557 SOL to fraktionalize this bad boy.
Once both transactions are approved, you’re prompted with a key congratulatory message that immediately proposes that you create a market to make your fraktions tradable. If you’re willing to just keep your fraktions and airdrop them, you can do so. But if you’re willing to grab that red pill and hop down the rabbit hole and make your NFT as liquid as possible, then we’re just getting started!
Well done! First step: complete!
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