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In this video, you’ll learn how Kaia Compatible Tokens (KCTs) like KIP-7 (fungible tokens) and KIP-17 (non-fungible tokens) make tokenization and DeFi integration seamless.
🔑 What you’ll learn:
Why fractionalizing NFTs is a game-changer for accessibility, liquidity, and DeFi.
The basics of Kaia’s token standards: KIP-7 and KIP-17.
How Kaia’s ecosystem empowers developers to create customizable smart contracts tailored to unique use cases.
📘 Resources and Links:
GitHub: https://github.com/jorshimayor/fractionalize-nft
Kaia Documentation: https://docs.kaia.io/
💬 Got questions or thoughts? Drop them in the comments below! Don’t forget to like 👍, share 🔄, and subscribe 🔔 for more blockchain and Web3 content.
#KaiaBlockchain #Kaia #NFTFractionalization #SmartContracts #KIP7 #KIP17 #DeFi #BlockchainDevelopment
date : 2024-11-28 05:03:46
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Fractionalizing NFTs on Kaia Chain with KIP-7 Tokens
In this comprehensive tutorial, Josh, a Web 3 DeFi tech editor, explains the concept of fractionalizing non-fungible tokens (NFTs) on the Kaia Chain and how it can be accomplished using KIP-7 tokens. He begins by discussing the limitations of current NFTs, explaining that they are often undividable and unresponsive to market fluctuations, limiting their utility.
Josh shows how fractionalizing NFTs can be achieved through the use of KIP-7 tokens, allowing for the creation of slices of the NFT that can be traded on open markets. He explains how this can increase accessibility to high-value NFTs, as well as offering new opportunities for liquidity. The process involves creating fungible tokens, such as KIP-7 tokens, which can be created and traded separately from their underlying NFT.
Through a step-by-step demo, Josh guides viewers in setting up a Caria wallet, creating a Kaia Chain contract, minting an NFT, and deploying KIP-7 tokens. He illustrates how the tokens can be used to interact with smart contracts, transfer ownership, and set prices.
Interesting Web3 Facts:
- Non-fungible tokens (NFTs) are unique digital assets that cannot be interchangeable with other tokens.
- Fractionalizing NFTs allows for the creation of smaller, tradable units of the token.
- KIP-7 tokens are a type of fungible token used to represent fractional ownership of a larger NFT.
- The Kaia Chain is a blockchain platform that focuses on DeFi and web3 applications.
- Trading and ownership of NFTs can be done directly on decentralized exchanges (DEXs).
