Oct 12, 2021
Niftyfuse: Hello World
A decentralized protocol that makes NFTs deflationary
Abstract
The goal of the Niftyfuse protocol is solve the biggest problem in the NFT market: the inexistence of a max supply. Niftyfuse achieves this via a mechanism that allows people to fuse two NFTs into 1. Users can fuse NFTs by burning two original NFTs and creating a new one that is the combination of the previous or by just creating the new combination without burning the previous ones. This option of burning or not burning the originals NFTs creates an imaginary NFT max supply that is not rigid but flexible. To avoid counter productive use of the platform users can only fuse NFTs that they hold.
Fuse token
Fuse token is a tracker of the value created by the Niftyfuse protocol. The Fuse token is a NRC20 token created in the NULS Blockchain that is used to pay the fees of fusing two NFTs into one. The amount of Fuse tokens necessary to fuse NFTs is variable and indexed to the $USD value and will be equal to ~$4 in Fuse tokens. The amount necessary to fuse NFTs can be later changed in the future DAO organization that will be created after the launch of the protocol.
