NIFTEX is designed to be a self-service platform for anyone looking to fractionalize their NFT. Broadly speaking, you decide what percentage of the NFT you want to sell at what price. The NFT is custodied in an (audited) smart contract and ERC20 fractions are issued for it. During 2 weeks, people can come in and buy fractions at that price. Once all fractions are sold or the 2-week deadline is reached, you receive the ETH raised from the percentage you sold and everyone gets their respective fractions. The fractions are then listed on a token market platform like Uniswap or an OpenSea storefront. We are actively working on many improvements to this early model.
Owners of rare NFTs create fractions ("Shards") by choosing issuance and pricing. The NFT is custodied in an audited smart contract.
Fractions will be for sale at a fixed price for two weeks or until they sell out.
After the fixed sale period, the fractions go to market where they can be traded like standard cryptocurrencies.
The underlying NFT can be recovered by acquiring 100% of the Shards or via a special Buyout clause.