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hiMEEBITS
$0.0₃7217
0.00%
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| hiMEEBITS | ERC20 | ETH | 0xbbeca80a4c99c3b1bd3c10e64595d0fc7dc26ee0 | 2022-10-26 |
About hiMEEBITS
hiMEEBITS (HIMEEBITS) is an NFTETF token that provides fractional ownership of Meebits NFTs. It operates on the Fracton Protocol, allowing for automatic, decentralized trading and redemption of NFTs, secured by the Ethereum blockchain. This system opens up new avenues for investment in the NFT space, making it more accessible to a wider audience.
hiMEEBITS (HIMEEBITS) is a distinctive digital asset that functions as an NFTETF (Non-Fungible Token Exchange Traded Fund) token. It is uniquely backed by Meebits NFTs (Non-Fungible Tokens), operating on the Fracton Protocol's smart contracts. Essentially, owning one hiMEEBITS token equates to having a 1/1,000,000 share of a Meebit in an on-chain Meebits Meta-swap pool that operates automatically without any centralized control. This setup allows users to redeem Meebits NFTs from hiMEEBITS tokens with a minimal redemption fee of 0.6%.
The primary use of hiMEEBITS is to provide a decentralized, blockchain-based mechanism for investing in Meebits NFTs through the Fracton Protocol. By fractionalizing ownership of Meebits NFTs, hiMEEBITS enables broader access to these digital assets, allowing investors to partake in the NFT market without needing to purchase entire NFTs outright. This system also introduces liquidity and accessibility to the NFT market, potentially democratizing access to high-value NFTs.