26 May 2023 08:14, UTC
Reading time: ~2 m
Fracton Protocol, in collaboration with KuCoin, has unveiled its latest addition to the list of fractionalized NFTs with the introduction of hiBAKC. hiBAKC has already made waves in the market, achieving an astounding 1,100% price surge on its very first day of listing.
This new addition marks the first time a BAKC fractional token has been listed. Moreover, it is the 27th hiNFT on the growing list of NFT ETFs on KuCoin.
Introducing the 27th KuCoin Fractional NFT – Fractionalized Bored Ape Kennel Club: Limited Sale of 4,666,667 #hiBAKC @FractonProtocol
⏰ Subscription will start at 09:00:00 on May 25, 2023
— KuCoin (@kucoincom) May 23, 2023
hiBAKC offers crypto exchange users the opportunity to engage with the Bored Ape Kennel Club (BAKC) NFT Collection, breaking each NFT in the collection into 1,000,000 tokens. The introduction of hiBAKC to the Fracton Protocol’s ecosystem aims to democratize access to these digital assets by breaking them into affordable, fractional segments. The outcome was a resounding success as the token’s price surged by 1,100% during its initial day of trading.
KuCoin has also shared details about the fractionalized fungible token sale. As hiBAKC becomes available for trading on KuCoin, users will gain access to a range of trading features, including advanced trading bots, an improved user interface, and the advantage of zero gas fees and reduced self-custody risks. Furthermore, each hiBAKC token can be acquired at 1/1,000,000th of the price of the original BAKC NFT.
The partnership between KuCoin and Fracton Protocol aims to enhance the liquidity of NFT assets and lower the investment threshold for retail users interested in participating in NFT investments. By fractionalizing NFTs, Fracton Protocol enables users to trade and invest in smaller portions of high-value NFTs while ensuring transparency and security through on-chain transactions.
Fracton Protocol has ushered investors into the world of hiNFTs. In less than 10 months, the NFT fractionalization infrastructure has achieved a lifetime trading volume of $3.3 billion for its hiNFTs on KuCoin and has locked millions of NFTs through secure smart contracts.
Furthermore, KuCoin is also hosting a grand lucky draw until June 1, featuring a prize pool of $50,000 and several blue-chip NFTs, including Doodles, Beanz, and Mfers.
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