⛵NFT Fragmentation

The best of the system of synthetic assets is that it can mint any kind of asset. By support NFT fragmentation, Crafting wants to solve all the following shortcomings of NFT:

● Lack of liquidity leads to excessive slippage in the buying and selling process;

● Lack of market pricing, so it is difficult to value;

● Not a good collateral, low capital efficiency;

● A large amount of capital expenditure is required to have the opportunity to obtain a high price NFT.

In Crafting, we will support any kinds of NFT for users to stake into the Forge system and forge the fractions of the NFT, just like other kinds of synthetic assets. Basically, the system will support two kinds of fractions, SNFTRafts and BNFTRafts.

● SNFTRafts is the single mode, which is suggested to be used for the rare NFTs. The user could set the name, initial price and amount of the tokens. After the mint of the SNFTRafts, the NFT will be locked into the Forge-SNFT-Vault. The NFT will be unlocked only if any user buyout it.

● BNFTRaft is the bulk mode, which is suggested to be used for the common NFTs. The NFT will be minted to the collection-BNFTRafts, of which the name and amount will be fixed. Users who hodl enough BNFTRafts could redeem the NFTs locked in the Forge- BNFT-Vault, and the redeemed NFT will be randomly chosen.

Once a user forges some NFT fraction tokens, the user needs to set a buyout price in case of buying the whole NFT. Anyone who wants to buy the whole NFT needs to offer a price higher than the buyout price and the one who offers the highest price will get the NFT. It works like auctions. And the buyout price can be changed later according to the vote of the token holders. Other users can buy the tokens from the original NFT holder through all different ways like DEX or even centralized exchanges if the token is listed. When voting to change the buyout price, the weighted average will be calculated based on the holder's choice. If the NFT is bought out, the revenue will be distributed among all token holders according to their shares.