Fractionalized Pudgy Penguins and Bored Apes can now be traded on a centralized exchange
January 23, 2024 - Starting today [11:00 am UTC], users can easily trade fractionalized Pudgy Penguins and Bored Apes Yacht Club tokens on WOO X, disrupting the traditional exclusivity of non-fungible token (NFT) marketplace sales and drastically expanding access to NFTs.
This game-changer is facilitated by a strategic partnership, with Flooring Lab listing its fractionalized NFT ownership µ-Tokens on WOO X, and Protecc Labs providing algorithmic expertise to boost NFT liquidity.
“We are yet (again) making a bold leap in the industry, as WOO X pioneers listing fractionalized NFT ownership. We are honored to be Flooring Lab's choice of exchange as the primary listing platform for their µ-Tokens, as well as Protecc Labs' support in providing algorithmic expertise, which signifies a broader commitment to innovation and leadership in the evolving landscape,” WOO X Co-founder Jack Tan said in a statement.
NFT holders aiming to list on WOO X can deposit an NFT through Flooring Lab’s Floor Protocol vaults. In return, the NFT holder receives 1,000,000 µ-Tokens corresponding to the specific NFT collection.
“Our mission is to create opportunities for NFT holders seeking listings on CEXs by providing a flexible model for fractionalized NFT ownership. These tokens can be bought, sold, and traded like any other cryptocurrency. It is also significantly cheaper to trade with, avoiding the massive buy/sell spreads and platform fees associated with NFTs.
For our first listing, it makes perfect sense to choose WOO X as a partner, renowned for pioneering numerous industry innovations, including the first live transparency dashboard and execution quality analytics, supported by a robust and trusted platform,” Flooring Lab said in a statement.
“Our collaboration with WOO X and Flooring Lab moves beyond market-making by actively contributing our expertise in algorithmic liquidity for NFTs. The innovation provided by this partnership aligns with Protecc’s core mission of enhancing NFT liquidity and fostering growth through advanced financialization protocols,” Protecc Labs said in a separate statement.
The first listings will be uPPG (Pudgy Penguins) and uBAYC (Bored Apes Yacht Club), with other popular collections planned for listing soon.
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