Here at Node Runners we never stop looking for innovations that would bring more utility to NFT space. Thanks to the NFT20 protocol, our collectible cards just became as liquid as any erc20 token out there. No more waiting for those NFT buy and sell orders on Opensea. How does it work? Let’s find out.
What is NFT20 protocol?
NFT20 protocol was created by developers from the Very Nifty team. They are solving one of the most painful problems that NFT collectors face, lack of liquidity for NFT. How many times there was no right buyer or seller on the other side?
NFT20 enables users to tokenize NFT into ERC20 tokens a.k.a. NFT20 tokens. Just like any ERC20 token, it can be paired with other tokens to create a liquidity pool at AMM exchanges like Uniswap.
How does it work?
It’s really simple. You deposit your NFT at Node Runners NFT20 pool and mint 100 NDR20 tokens, you keep 95 NDR20, 5 NDR20 goes to the platform.
On the other hand, if you have 100 NDR20 tokens, you can swap them for any 1 NFT in the pool. Just deposit 100 NDR20 and select one of the available NFT you like.
What can I do with NDR20?
Trade it on Uniswap just like any other token.
Swap 100 NDR20 for any NFT in the pool.
Provide liquidity and get double yield farming rewards (more details are coming out soon).
Use it as an arbitrage opportunity to buy scarce NFT for 100 NDR20 and resell it later.
What if my NFT is worth more than 100 NDR20?
Since our collectible cards have different scarcity levels, we can’t treat every card equally.
On NFT20 platform you can create a Dutch auction and let the market forces decide on the value of your NFT. The bids will be made in NDR20 token, you can cancel the auction at any time.
What is the price of 1 NDR20?
The first NFT that was tokenized was Michael Egorov’s card. So 1 NDR20 is worth 1/100 of Egorov’s card. Liquidity pool will be launched soon with more details.
Where do I start?
To mint your first NDR20 tokens, head over to: https://nft20.io/asset/0x303Af77Cf2774AABff12462C110A0CCf971D7DbE