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WeBuy, what is the main purpose of this project?

Juin 9, 2022
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WeBuy, what is the main purpose of this project? This project plays an important role in revitalizing the NFT market, find out how?

WeBuy provides the ability to divide ownership of NFTs by KIP-7 and ERC-20 tokenization. We call it “Fractionization.”

The NFT news is currently marked by this project which innovates, discover why and how?

Fractionization makes it possible for multiple people to own a single NFT together. As many high profile NFTs can easily cost up to millions of dollars, joint purchases through fractionization not only make it easier to own expensive NFTs but has the effect of providing liquidity to the NFT market.

WeBuy, its usefulness:

It is safe to say that fractionation has revolutionized and opened new horizons in the field of NFTs. It has allowed more people to invest in NFTs. Below are some other benefits of buying NFTs by splitting:

  • Value discovery
  • Enhanced liquidity
  • Democratizing investment

1. Valuation: One of the advantages of fractional is the ability to quickly assess the market value of NFTs. For example, if you want to know the value of your NFT, you can find out the value of your NFT in the market by dividing the NFT and proceeding with fractional sales.

2. Enhanced liquidity: Fractional NFT solves the liquidity problem. When selling expensive NFTs, there is a problem that the sale period can continue for a long time because only a small number of investors can afford the NFT, meaning the target market is limited. If the KIP-17 and ERC-721 NFTs you hold are separated into KIP-7 or ERC-20 tokens and sold partially, the NFTs will receive attention from the public rather than a small group of investors. This solves a significant part of the liquidity problem.

3. Democratization of Investment: It is difficult for small investors to purchase NFTs through NFT auctions. In the case of NFT auctions, usually expensive pieces are sold, so only a small number of investors can purchase the asset. However, the advent of fractional NFTs has opened up more opportunities for small investors gathered into DAO in NFT markets that were previously only for a select few.

WeBuy

How to Return on Investment

First, if someone buys Picasso’s whole NFT sold with KIP-7 or ERC-20 tokens at a higher price, token investors can share the difference as much as their stake in the NFT.

For example, let’s say you sell a $100,000 piece of art to one person for $150,000. Then, the difference of $50,000 is distributed to investors in proportion to their respective stakes. If you hold 1 token, which is $10, you will be paid +$5 in profit.

Second, there is a method of buying and selling KIP-7 or ERC-20 tokens similar to normal (regular) trading.

For example, let’s say you purchase $10 worth of NFT fractions for a $100,000 piece of art. Anyone who wants to purchase ownership of this work must purchase it at a price higher than $10 for 1/10000 share(s). If the price of the piece I own goes up and I sell this fraction of ownership to another investor for $12, I get a 20% profit ($2).

WeBuy Governance Token

Token symbol is WE
Total supply is 2,500,000,000.

WE is WeBuy’s governance token and it is deployed on Klaytn Mainnet. This token will be used as a governance tool in the WeBuy ecosystem.

Direct access to the official website


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