NFT Trading And Pricing Protocol Waterfall Closes $4 Million Seed Round
The project announces raising a $4 million seed round led by Electric Capital and Pantera Capital to build an NFT trading and pricing protocol.
Waterfall is an on-chain NFT trading and pricing protocol. The project is looking to make NFTs more composable and productive by developing new NFT financial derivatives and mechanisms.
It designed and built out the trading and pricing mechanism, which allows users to trade chips to predict NFTs prices, providing instant price discovery.
When an NFT is listed on the protocol, it fractionalizes the NFT into a specified number of chips: ERC-1155 tokens that represent predictions on the NFT’s future valuation. They may exchange hands, however, but the main invariant the mechanism maintains is that all chips must be listed at all times.
In other words, each chip has a price that anyone can match to acquire it. This remains true until somebody decides to buy out the NFT, which pays out each of the chip owners and transfers the NFT out of the protocol to the buyer.
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