Last updated a year ago
We published a Plutus dApp for fractionalized NFTs. However, it hasn't been audited and only supports fractionalizing single NFTs
We want to publish a v2 of Fracada that is both audited and supports fractionalizing a bag of NFTs
This is the total amount allocated to Fractionalized NFTs v2.
The way Cardano works actually makes NFTs an extremely important part of dApps to the point where almost all eUTXO (Cardano-based) dApps have to use NFTs. You can read more about why Cardano was designed this way here: https://medium.com/dcspark/every-eutxo-dapp-will-use-nfts-and-heres-why-fd87e6a8c9a6
As NFTs are super important core primitives to Cardano, the first dApp we wrote at dcSpark is called "Fracada" and it supports fractionalizing NFTs. If you're a developer and want to know the full detail, you can find it here: https://medium.com/dcspark/fracada-a-protocol-for-fractionalizing-nfts-14b9017b3d91
Since we think this is really important, we made Fracada entirely open-source with an MIT (free to use for everybody) license. As such, Fracada has seen good interest with multiple NFT marketplaces reaching out to us to have it implemented into their platform. However, as this smart contract isn't audited yet, it is hard for a platform to justify the risk.
To unleash the potential of fractionalized NFTs on Cardano, we want to continue development of this dApp by adding the ability not to fractionalize a single NFT, but also fractionalize an arbitrary bag of NFTs.
We believe we can release this feature in Q1 2022.
Budget breakdown:
- 35K for audit & addressing audit findings
- 15K for development of Fracada v2
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Having previously worked at EMURGO, we have worked Plutus for years and released Fracada as an open-source MIT smart contracts for Cardano