Kylin Network and Nftfy Partnership
As Kylin Network move toward making DDMOs a reality they have been working in the background with the team at Nftfy to validate out their vision for kickstarting the DeData revolution through fractionalized NFTs. The team at Nftfy has also been searching for innovative use cases just like ours!(If you are wondering what a DDMO is, read here!)
That said, Kylin Network is extremely pleased to add yet another DeData ecosystem partner: Nftfy!
What does NFTFY do?
Nftfy is the first decentralized protocol that enables NFT holders to Fractionalize their Non-Fungible Tokens (NFTs) in a trustless and permissionless manner. The highly sophisticated — yet user-friendly — Nftfy platform utilizes smart contracts to Fractionalize digital assets into several ERC-20 compliant components while ensuring that each component is backed by the NFT itself!
What will they do together?
- Nftfy and Kylin will work closely together to undertake the implementation of the first DDMOs.
- Kylin will play a supportive technical and marketing role to launching ratified proposal DDMOs in concert with Nftfy.
- Nftfy and Kylin will work in the long term to automate aspects of the fractionalizations’ impact for holders of the DDM NFT in concert with our network query fees for the associated DDM.
Why Kylin Network is excited?
They are extremely excited to partner with Nftfy on the DDMO initiative as they were a select candidate in their process to validate the concept. Nftfy have pioneered the use of NFT fractionalizations and have a robust, easy-to-use platform for their community to take advantage of as they start the very first DDMOs.
Lalo Trage, Founding Board Member of Nftfy:
“We are very excited to have this innovative use case on our platform. It is very important that people understand that NFTs are not just about arts and collectibles. It is a privilege for Nftfy to be part of this process of Fractionalizing DDMOs and becoming a partner of Kylin Network.”
Dylan Dewdney, CEO of Kylin Network:
“We are extremely grateful for the team at Nftfy for building out such an innovative platform onto which imaginative use cases can be built, like our DDMOs. Nftfy revolutionized the NFT market, being the first platform to solve the NFT Fractionalization problem in a totally decentralized manner.
We are extremely pleased that we will be working together on this over the long-term to deliver and accelerate a variety of extremely innovative DeData use cases and markets to the world.”
About Kylin Network
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 powered by Polkadot. Kylin Network will provide valid, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
About Nftfy
The first decentralized protocol that enables NFT holders to Fractionalize their Non-Fungible Tokens (NFTs) in a trustless and permissionless manner. The highly sophisticated — yet user-friendly — Nftfy platform utilizes smart contracts to Fractionalize digital assets into several ERC-20 compliant components while ensuring that each component is backed by the NFT itself!
📰 INFO
https://kylinnetwork.medium.com/kylin-partners-with-nftfy-to-make-ddmos-a-reality-6ff151098d53
