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Unicly Floats Its First Fractionalized Non-Fungible Tokens (NFTs)

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by Benjamin Godfrey · 3 min read
Unicly Floats Its First Fractionalized Non-Fungible Tokens (NFTs)
Photo: Depositphotos

Unicly functions as a fractionalization platform for NFTs. This means that NFT collections can be broken down into bits for easy sell-offs.

Unicly, a new multi-protocol Non-Fungible Token (NFT) focused platform has launched its first fractionalized collections, ushering in a whole new way to engage with NFTs. As contained in a press release shared with Coinspeaker, the Unicly protocol is also publicizing its growing network of stakeholders, all working to get the platform on the right path for its disruptive innovation.

The NFT metaverse has seen massive growth in the past year, with super rare digital artworks and collectibles selling for astronomical prices. Most of these pieces come as collections that are typically impractical for the average NFT enthusiast or collector to purchase. This obvious challenge brings the need for a platform that can fractionalize these digital collections, in a way that makes being an owner can be made easier.

As a multi-protocol platform, Unicly combines a mix of Automated Market Makers (AMMs), NFT auctions, liquidity farming, and decentralized governance in order to create a functional NFT gallery and trading platform. The Unicly platform now serves as a hub for collectors, casual investors, artists, designers, creators, traders, yield farmers, and other major players in the decentralized finance ecosystem.

As a recognition of its growing strides in the blockchain space and per the press release, the Unicly exchange has broken record as the first NFT trading platform to be listed on Coingecko. This is based on the ease of integration per its similarity to other AMMs. Since its inception, the exchange has already generated more than $20 million in volume and has attracted $30 million in liquidity. The value of the fractionalized NFTs on Unicly has grown to approximately $70 million in value.

“The community support for Unicly has been outstanding these past couple of weeks,” said 0xLeia, the anonymous founder of Unicly. “We’ve fractionalized some really cool collections already, the community is making its first governance decisions, and we’re beginning to attract liquidity and wider community interest. Unicly’s off to a really promising start.”

The Unicly protocol has attracted some of the prominent NFT projects around today including Animoca, Aavegotchi, and Sandbox.

Unicly NFTs Protocol Key Features

Unicly functions as a fractionalization platform for NFTs. This means that NFT collections can be broken down into bits for easy sell-offs. Since making its debut on April 7, the Unicly protocol has attracted important NFT collections that were put up for fractionalization. This includes eight multi-million-dollar collections that would have been too costly for a single person to own. These include: Jenny DAO collection uJENNY, 50 CryptoPunks NFTs fractionalized into uPUNK, Aavegotchi’s uGOTCHI, HashMask collection uMASK, Doki Doki collection uDOKI, Axie collection uAXIE, Beeple collection uBEEPLE, and Autoglyphs collection uGLYPH.

“Some NFTs have gotten so expensive that people are getting priced out of the market,” added 0xLeia. “I think the community has always wanted an NFT fractionalization platform, but nobody was able to provide a functional protocol before.”

The Unicly platform is compatible with the various types of NFTs including ERC-721 and ERC-1155. Through Unicly, these fractionalized parts can be staked to farm UNIC, the platform’s governance token. Holders of the UNIC tokens can participate in the governance of the platform. UNIC tokens are not pre-mined and every farmer gets equal leverage to own the token which comes with a total supply of 1 million.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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