How to Redeem the NFT?
Anyone can Redeem the NFT and get it instantaneously in their wallet. There isn't any kind of implications regarding the other Fraction holders. In other words, you don't need to ask for permission or to achieve an agreement with the other holders.
If the user doesn't have any Fractions, it is possible to simply buy the whole piece by just paying the Exit Price using the cryptocurrency previously defined. If the user already has some participation in the NFT Fractions, it will just be needed to give these Fractions to the contract and pay the remaining amount of the Exit Price. The picture below represents the scenario in which there are a few users holding Fractions of the NFT and one of them decides to buy the whole piece for himself. In that case, he needed to give his Fractions back to the Smart Contract - to be burned - and pay the remaining amount of the Exit Price.
Another interesting possibility is that the user will be able to buy more Fractions in the open market at a lower price before paying the Exit Price. This is a great opportunity for the user to purchase as many Fractions as possible in order to pay a lower amount of the Exit Price.
Therefore, anyone who pays the Exit Price will receive the NFT from the stake. The payment is stored in a Vault and it becomes the new backing of the remaining Fractions.
The user receives the NFT and payment is stored in the vault.
As a consequence, there is an instant conversion towards the price of the remaining Fractions and now they are all worth the maximum amount defined by the Exit Price.
All the remaining Fractions are now worth the Exit Price per Fraction.
Last modified 8mo ago
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