Thread by @sliced_art

Tweet storm incomingggg 💣

The team behind @CrunchyTez is thrilled for the upcoming release of Sliced.art.

What is Sliced.art?
Sliced.art is #tezos first fractional #NFT market.

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What is a fractional or sliced #NFT?

Sliced (fractional) NFTs represent shared ownership in NFTs. It will be possible to slice up an NFT into millions of fungible tokens

These tokens can then be sold on Sliced.art or supported marketplaces like @objktcom

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Why should I care about sliced NFTs?

Dreamed of owning that rare @tezzardz or the latest @zancan NFT, but the price tag keeps it out of reach?

Slicing reduces the cost of entry for those who are normally priced out of Tezos’s blue-chip NFTs and allows all to own a slice

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With sliced NFTs, liquidity is also increased. When you slice a NFT, generally each fragment will be priced much lower than the NFT itself. This allows for everyone, not just whales, the opportunity to purchase these NFT slices.

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What if someone wants to buy the NFT that was sliced?

This is the beauty of Sliced.art. All NFTs will have a buyout system. When you buy and hold a sliced NFT, you have a say in the reserve sell price of the underlying NFT.

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If a user wants to buy the sliced NFT outright, they will place a bid at the reserve price or higher. This will trigger a auction and the highest bidder will purchase the NFT at the final bid price.

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When a reserve auction has completed, the original artist receives their royalties and the remaining funds will be allocated to users that hold that NFT’s slices. Users may burn slices to retrieve their $XTZ sale proceeds.

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So when is this coming?

The plan is for the end of October. However....there are a lot of moving parts and integrations and this could be pushed back.

In the meantime, read the full details in our recent Medium post: sliced-art.medium.com/introducing-sl…

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Are you an artist interested in being featured on Sliced.art? DMs are open 😃

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