NFT Fractionalization
Fractionalize and stake to earn with your NFTs
Welcome to the exciting new frontier of fractionalized NFTs on Blast with Wasabi. This guide is designed to help NFT holders understand and navigate the process of fractionalizing their NFTs.
What is NFT fractionalization?
Fractionalizing your NFTs involves wrapping your standard NFTs (ERC-721) into the BT404 standard. This creates a semi-fungible NFT. One ERC-721 is represented by 1,000 fungible tokens and a 404 NFT which is inherently connected and “travels with” the fungible tokens. These tokens are backed by, and can be easily unwrapped into one of the original NFTs.
How do I fractionalize my NFTs?
Below are the steps to fractionalizing your NFTs using our first NFT partner, Blastopians, as an example.
Connect Your Wallet: Start by connecting your digital wallet to the Wasabi platform, navigate to the ‘EARN’ section.
Select the wmBLASTOPIANS Vault: If you have Blastopians in your wallet you will see the option to “Fractionalize and Stake”.*
Choose which NFTs to Fractionalize: Select the Blastopian(s) you would like to fractionalize and stake in Wasabi.*
Enjoy Blast Gold, Wasabi Points and Yield: You will receive wmBLASTOPIANs Tokens representing your staked position in Wasabi. Redeem those at any time to receive your $mBLASTOPIANS tokens as well as 404 NFT(s).
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