Introduction

NFT20 is a permissionless p2p protocol to tokenize NFTs and make them tradable on decentralized exchanges such as UniSwap or Sushiswap. Anyone with an NFT can create a new pool or add his NFT to an existing pool and get ERC20 Token derivatives of their NFTs in a permission-less way, those tokens can be transferred and traded on DEXes right away.

Background

History of NFTs shown that a very small portion of NFTs stay valuable over the long term but 99% of Non Fungible Tokens lose value after a few months and their liquidity is $0.

How It Works

When you add a new NFT project to the NFT20 DEX the NFT20 Factory will create an ERC20 representation of the NFT project and give you 100 tokens per 1 NFT deposited.

Use cases

In this section we’ll describe how various actors of the NFT ecosystem can make use of NFT20:

Platform Governance & Team

The parameters of the platform will be governed by a DAO managed by the $Muse token holders, here is what qualifying VNFT NFT holders will be able to decide:

  1. Change the requirements of project approval for $NFT20 farming.
  2. Team structure and marketing spend of the DAO resources.
  3. More to be decided.
Small demo of what’s to come

Initial Team

NFT20 was developed by Jules and Adam with design help from Carlos Veloso, the project was bootsrapped without any external investment or presale and creaed under the VeryNifty NFT shop.

$Muse governance Token Distribution

The $Muse governance token was ditributed with our first game Very Nifty. Early players of this 4 months old game had the luck to mine the initial $muse supply. At launch of governance the token is held by more than 700 addresses and will be used to vote on proposals.

What is the utility for the $Muse Token?

The protocol gets 5% fees on all tokenized NFTs, $NFT20 holders will be able to provide liquidity to the different NFT-ETH pairs and get $Muse tokens, those tokens can be burned to get a share of the fees generated by the protocol.

Liquidity Incentives

Liquidity is a big part of any DEX. 500 $NFT20 a day will be allocated to incentivize liquidity with 500 $Muse a day of all farming going to the DAO to cover expenses.

Open call to all NFT project teams

Reach out to us to see how both communities can benefit from our DEX, we are looking for long term strategic partnerships for projects that want to incentivize liquidity for their users.

Join The Community

Join our discord, telegram and twitter to be part of the discussion.