How to editionize single NFTs on Nibbl
Editionizing your NFT on Nibbl is a straightforward process. This article will review the steps to editionize your single NFTs on Nibbl. But first, what is Nibbl?
What is Nibbl
Nibbl is a web3 protocol that lets you make editions of your NFTs.
With Nibbl, you can make editions of an NFT, making it possible for collectors to get exposure to high-valued NFTs. Nibbl ensures fairer buy-outs, more access, and social features that let you directly connect and engage with other community members. Through Nibbl, collectors or community members can buy and own a percentage of highly sought-after NFTs, allowing for the widespread adoption and ownership of NFTs.
Nibbl supports the Polygon and Ethereum blockchains and has plans to support all EVM chains.
How to editionize single NFTs on Nibbl
Follow these simple steps to editionize your NFTs on Nibbl:
Step 1
Connect your wallet
After connecting your wallet, switch the network to the polygon network.
Step 2
Tap on ‘Editionize’
Tap on the editionize button on the top left navigation bar of your screen to start the editionization process.
Step 3
Enter the details of your NFTs
Next, you have to enter details like name, initial token supply, price, symbol, description, initial liquidity, minimum buy-out date, etc.
Let’s quickly explain what these mean.
Name
This is the name you want to give your ions. Examples of some ion names on Nibbl are Doods, dappfers, etc.
Symbol
This is the symbol you assign to your ions.
Description
Here, you describe your ions. You can even include their utilities and targeted community.
Initial liquidity
This is the initial liquidity you provide to the bonding curve before editionizing your NFTs. It enables buying and selling of the fractions to happen on the bonding curve. The lowest initial liquidity you can provide is 5% of the valuation, while the maximum is 30% of the valuation.
Valuation
This is the price of the NFT. You can value your NFT at a thousand MATIC or even above. It all depends on the value of the NFT and your discretion.
Initial supply
Initial supply or initial token supply is the initial number of ions representing your NFT. You need to indicate the number yourself. It could be 1000, 10,000, or even more.
Initial token price
You calculate this using the valuation and the initial supply. Divide the valuation by the initial token supply to get the initial token price.
Royalty
Nibbl lets you earn royalties on every trade of your ions. Royalties incentivize more if you put in more liquidity. For example, if you put in 30%, it gives you 1.5%. If you put 5%, it gives you 0.75%. This means that for each trade of the ions, you’ll get either 1.5% or 0.75%, depending on the initial liquidity you provided.
Minimum buy-out date
This is when it’ll be possible to buy out all the ions. Before this date, it’ll be impossible to buy out the ions. Please check out our frequently asked questions to learn more about buy-outs and other concepts.
Step 4
Editionize your NFT
The final step to editionizing your NFT is to approve the transaction and let it go through.
Why editionize your NFTs on Nibbl?
It’s effortless and beneficial to editionize your NFTs on Nibbl, but if you want more reasons to editionize your NFTs on Nibbl, here are some reasons to convince you:
Royalties
On Nibbl, you earn royalties on every trade of the ions.
Create your NFT community
Nibbl offers you tools to help you build your own token-gated NFT community.
Guaranteed Liquidity
With our bonding curve mechanism, we ensure that both the price and supply of tokens to increase over time. Read more about our bonding curve mechanism here.
Our Unique Buy-out game
On Nibbl, we have a unique, 3-stage buyout mechanism where any user can trigger a buyout, and the community has the power to come together and accept/reject the bid. Read more about our buy-out game here.
Check out this article for more reasons why you should editionize your NFT on Nibbl and the features that set us apart.
Join us
Editionizing your NFT on Nibbl could be one of the best decisions you make in the NFT space. There are endless possibilities of community, utility, and adoption to explore.
Join our Discord today.
You can find out more about Nibbl by visiting our website. You can also join our Discord and Telegram. Follow us on Twitter.
