NFTs became mainstream after the emergence of popular NFTs. Infrastructure for NFTs grew quickly, and many NFT trading platforms and analytics tools entered the market. This helped spread the word about the idea and get more people interested.
In spite of this rapid growth, NFTs are still facing challenges, such as low liquidity due to the low accessibility and lack of utility of NFTs, poor price discovery and valuation when an NFT lacks liquidity, the inability of existing fragmented platforms to address both floor-priced NFTs and the liquidity of rare NFTs, and an upper limit on the price of NFTs while preventing ideal valuation based on the properties of individual NFTs, which is caused by the insufficient number of NFTs in the NFT AMM liquidity pool. To address the series of problems, ShredN is launching the market.
ShredN is a protocol dedicated to solving the low liquidity problem of NFTs and setting up different liquidity solutions for different types of NFTs. Unlike other NFT fragmentation or NFT AMM protocols, ShredN sets different liquidity solutions for different types of NFTs (ERC-721 or ERC-1155). Furthermore, the ShredN protocol will distinguish between different ERC-721 IDs, allowing NFTs with varying rarity traits to achieve fair valuations.
To stand out in the market, there are some features that make ShredN unique. First of all, the ShredN protocol covers a wide range of liquidity solutions, such as fragmentation, NFT AMM, and the creation of trading strategies for NFT traits. Through Shredn, users can choose the right solution for their individual needs. ShredN will bring together all existing NFT liquidity solution platforms to make it easier and more liquid to find out what the prices of NFTs are. Moreover, the multi-chain function is in line with the trend of the market. ShredN’s vision is to enable all NFTs to unlock and access liquidity. To this end, ShredN will support all public chains where NFTs exist. Members of the community can also vote on who will run the NFT projects on ShredN, decide where ShredN will go, and work together to make NFT liquidity solutions.
In the coming months, Ethereum, BNB Chain, and Polygon network support will be in place, along with NFT shard trading, ERC-721 shard trading, and ERC-721 NFT AMM. With the rise of NFTs, ShredN will encounter a great market. With its vision and targeted solution, ShredN will thrive.
By Juan Mende. In collaboration with ShredN.
I’m a technology, Bitcoin, blockchain and cryptocurrencies 🚀 enthusiast. I worked as an IP lawyer before becoming a digital marketer and creating content for many digital initiatives. Currently, I am the editor of Cryptopress and a marketer for various cryptocurrency companies.
© 2024 Cryptopress. For informational purposes only, not offered as advice of any kind.
