Implement a model that automatically determines the price by fractionalizing NFT and linking it to Uniswap's liquidity. As a model for this, it was applied to the music field, which could be the most advantageous.
We implement a model that automatically determines the price by fractionalizing NFT and linking it to Uniswap's liquidity. As a model for this, it was applied to the music field, which could be the most advantageous. Musicians' music can be NFT and fractionalized, linking it to ERC-20. This provides Uniswap with liquidity, which can be immediately purchased and sold by fans. The higher the scarcity, the higher the price of the token, due to the higher the musician's value or the small amount of tokens issued. The price will also be more expensive as more purchases are made by combining its own bonding curve in addition to the price due to the liquidity of the basic uniswap.
How it's made
The music information was uploaded to IPFS, which is provided by NFTPort. Rarible's Lazy mining allows NFT tokens to be mined and sold/sold. It is fractionalized to ERC-20, where liquidity supply and token exchange are achieved through Uniswap (IUniswapV2Router02) addLiquidity and swapETHForExactTokens. Prices become more expensive as you purchase a combination of initial liquidity prices and bonding curves. To get the NFT data, used covalent api. The contract was distributed on the Ropsten TestNet using Hardhat. The UI was implemented as React and linked to the contract with the etherjs library.