In a groundbreaking move, WOO X, the leading centralized exchange, has opened its doors to fractionalized trading of Pudgy Penguins and Bored Apes Yacht Club tokens, breaking the exclusivity barrier in the NFT marketplace. The move, effective from 11:00 am UTC today, marks a significant expansion of NFT access.
Strategic Partnership Facilitates Game-Changing Integration
WOO X’s strategic partnership with Flooring Lab and Protecc Labs has paved the way for this innovative development. Flooring Lab will list its fractionalized NFT ownership µ-Tokens on WOO X, while Protecc Labs lends its algorithmic expertise to enhance NFT liquidity on the platform.
Bold Leap into Innovation
Jack Tan, Co-founder of WOO X, expressed excitement about the bold leap, stating, “We are honored to be Flooring Lab’s choice of exchange as the primary listing platform for their µ-Tokens, as well as Protecc Labs’ support in providing algorithmic expertise, which signifies a broader commitment to innovation and leadership in the evolving landscape.”
Flexible Model for NFT Listings on WOO X
NFT holders keen on listing their tokens on WOO X can utilize Flooring Lab’s Floor Protocol vaults. In exchange for depositing an NFT, holders receive 1,000,000 µ-Tokens linked to the specific NFT collection. This approach creates opportunities for NFT holders to engage in trading with greater flexibility and reduced costs.
Flooring Lab highlighted the cost-effectiveness of trading fractionalized NFT ownership, emphasizing that these tokens can be bought, sold, and traded like traditional cryptocurrencies. The move also eliminates the substantial buy/sell spreads and platform fees associated with typical NFT transactions.
Initial Listings and Future Plans
For the inaugural listing, Flooring Lab has chosen WOO X as its partner, citing the exchange’s reputation for innovation and transparency. WOO X, known for pioneering industry-firsts such as the live transparency dashboard and execution quality analytics, welcomes the collaboration as a testament to its commitment to driving advancements in the NFT space.
The initial listings on WOO X will feature uPPG (Pudgy Penguins) and uBAYC (Bored Apes Yacht Club), with plans to introduce other popular collections shortly. This strategic alliance represents a pivotal moment in the NFT landscape, aligning with the mission of all involved parties to enhance liquidity and foster growth through cutting-edge financialization protocols.
Stay tuned for more updates on this revolutionary development in the NFT market.