We are thrilled to announce that Bakery NFTSwap has officially launched! As a part of the expanding BakerySwap ecosystem, Bakery NFTSwap aims to offer unprecedented flexibility and efficiency in NFT trading. In this article, we’ll dive into the key features and explain why Bakery NFTSwap is the next big thing in the NFT world.
In the fast-paced world of NFTs, traders often find themselves limited by existing NFT marketplaces which are often cumbersome, lacking liquidity and trading efficiencies.
Bakery NFTSwap addresses these issues by offering an AMM for trading NFTs. Now users can trade much more efficiently and smoothly. By leveraging AMM, the new trading model allows users to buy and sell a large amount of NFTs directly and immediately at the best price.
Bakery NFTSwap initially supports PunkX NFT collection. Go to https://www.bakeryswap.org/#/nftswap and you can start swapping PunkX NFTs.
1. Buy an NFT
You can select the NFTs that you want to buy on the left side, and your selected NFTs with the corresponding prices will show up on the right side. Then you can just click the button to buy them.
2. Sell an NFT
You can select the NFTs you want to sell from My NFTs area, and simply click the button to sell. The process is just as straightforward as swapping tokens.
1. bToken — The Liquidity Engine
bToken is a new concept to deal with the liquidity issue of NFT trading. It represents NFT collections in ERC-20 format, making NFTs to trade as easily as tokens. The bToken boosts liquidity and functionality for NFT collections, laying the groundwork for NFT finance and extending the adoption of NFTs in a broader DeFi system.
2. Leveraging AMM Liquidity Pool
bTokens can be paired with ETH or other tokens such as USDT on AMM exchanges like BakerySwap, Uniswap, etc. Therefore, the NFT liquidity issue is resolved through the bToken liquidity pool.
3. NFT and bToken Conversion
The Conversion Contract guarantee that the NFTs and bTokens can always be converted in either direction at a fixed ratio.
The launch of Bakery NFTSwap is just the beginning of an exciting journey into the evolving landscape of NFT trading. As we move forward, we are committed to expanding the range of NFT collections supported on our platform.
In addition to these, we’re also in the process of developing more innovative features, mechanisms, and incentives that will revolutionize how tokens and NFTs are traded. Stay tuned!