How to use ERC-1155 Fractions
Users now have the option to fractionalize their NFT vaults into either ERC-20s or ERC-1155s.
ERC-1155 fractions allow users to trade their fractions on NFT marketplaces like Opensea and Rarible, rather than rely on providing liquidity to decentralized exchanges like Uniswap and Sushiswap. This also saves vault creators from the $1000+ transaction fee of setting up a liquidity pool for the first time.
ERC-1155s are also usable in virtual galleries like OnCyber!
To create ERC-1155 fractions, users will have to select the “Mint new NFTs (ERC-1155)” option in the fractionalize menu.
After clicking on Mint new NFTs (ERC-1155), users will see the following webpage.
- Select the NFT(s) you’d like to Fractionalize into ERC-1155s.
- Enter the amount of ERC-1155 fractions you’d like to create.
- Click Continue
After clicking Continue, you’ll see the following menu pop-up. You’ll have to:
- Mint the basket.
- Approve the vault.
- Transfer the NFT(s) into the vault.
- Fractionalize the vault into ERC-1155s.
NOTE: If you only fractionalized one NFT, you’ll only see two steps here instead of four. That is NORMAL!
After you fractionalize the vault, you’ll have the ERC-1155 fractions in your wallet and you can now send them to friends, display them in your galleries, or list them on Rarible, X2Y2, LooksRare, Opensea or right on the Tessera website!
