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Imagine a painting.
There is only one such image, you can buy it but you can not purchase only a part of it - it cannot be 🧩fractionalized.
These are NFTs.
Then imagine a box full of the same puzzle pieces.
You can own a load of these puzzle pieces, you can trade them with others who like them, but they will never make up an image.
These are fungible tokens.
Finally, imagine a traditional puzzle.
You can either own just one piece, holding a part of something bigger or own the entire set, securing the complete image as your own.
Now we’re tapping into ERC -404.
Basically, a mashup of NFTs and fungible tokens, ERC -404 combines the best out of both worlds: the liquidity of tokens and the collectible nature of NFTs.
The goal of ERC404 is to significantly improve the liquidity of NFTs by allowing you to trade them as ERC-20 tokens.
You still can - but no longer have to - list an NFT and wait for someone to pay the price you are asking for. Instead, you can trade and cash out immediately on a decentralized exchange.
The concept of native fractionalization within NFT is something NFT investors have long dreamed of.
ERC404 is the potential answer.
It is a pioneering solution, offering two pathways for liquidating investments: you can still get the whole puzzle set and list your NFT, or you can convert your puzzle pieces into ETH and withdraw from a project whenever you want.
In essence, ERC-404 equips NFT investors with a quick cash-out option.
Even more importantly, it allows us to participate in NFT projects we want to support, without needing to commit to purchasing an entire NFT.
This opens good NFT projects to participants who are hesitant to purchase a full NFT or wish to invest smaller amounts.
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This experimental token standard is still in its baby steps.
It can confuse many established protocols with its mixed functions. It has not yet been extensively vetted like ERC20 and ERC721 are.
However, it has brought fresh hope into the world of NFTs, hope so substantial that the first ERC -404 project, Pandora, jumped in value by over 12,000% in just one week.We are particularly interested in how this new sector can be integrated within gamified contexts, which would incentivize more trading and inspire wider adoption of ERC404 and NFTs in general.
Innovation always comes with risks, but pioneers are essential for progress.
We want to ride this new wave with 🌑midnight.
It adds a missing piece to our ecosystem, which we always wanted to make available to a wider audience - not only established NFT investors.
Our vision is an inclusive platform, one that is universally accessible, where anyone and everyone can delve, learn, earn, and connect.
With 404, our project comes closer to that dream.
Yet, it remains and becomes even more interesting for our fellow 🦧screen dwellers, those who are already getting their bread online but are constantly looking for new and better solutions to improve the digital asset space and how we spend time on the screen.
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