What is Tessera? Tessera is an NFT Fractionalization platform on Ethereum that enables anyone to collectively participate in the ownership and governance of Blue Chip NFT collectibles. Let’s find out what is special about this project with Weakhand in this article.
Before jumping into the article, everyone can learn more about some of the following platforms to better understand.
- What is MuseDAO? Overview of MuseDAO cryptocurrency
- What is Unicly? Unicly cryptocurrency overview
What is Tessera?
Overview of Tessera
Tessera is a platform NFT Fractionalization Developed on Ethereum. Initially, the project was called Fractional.art, but after a period of operation, the project decided to change its name to Tessera.
Tessera allows sharded NFT holders to split Blue Chip NFTs into small pieces called Rae (Rae is a type of NFT that represents ownership of a share in the Vault).
What is Tessera?
Tessera develops 2 protocols including:
- Tessera Marketplace: To ensure users have a seamless experience from start to finish when purchasing or listing Rae NFTs. Tessera has launched Tessera Marketplace allowing users to buy and sell NFTs without transaction fees.
- Tessera Protocol: Is an infrastructure protocol consisting of Smart Contracts that run automatically on Ethereum. Tessera Protocol allows users to transfer their NFTs to Tessera Vault for safe locking and storage.
Tessera’s mechanism of action
Tessera’s operating model takes place according to the following steps:
Step 1: NFT owners can create a Vault by depositing NFT into the platform and setting parameters for the Vault such as: NFT buyback activation price,… Tessera automatically mints a certain amount of corresponding Rae NFT .
Step 2: Now in the Vault will move to the distribution phase, all NFTs are sold via Dutch auction. The distribution phase can last up to 26 hours and ends immediately when all available Rae has been purchased.
For example, users can NFT Rae in CryptoPunk Vault #8857
Step 3: Users can buy and sell Rae NFTs on the secondary market, Tessera Marketplace, until the NFT reaches the price threshold that triggers a buyback.
Step 4: When the NFT redemption process is successful, all Rae in the Vault is burned and the amount of ETH collected minus a fee for Tessera is redistributed to users in the Vault.
What is the Tessera difference?
With newly created Vaults, Tessera helps users not miss auction time information with the feature implementation Set a Reminder. In addition, the deployment of Tessera Marketplace helps users to buy and sell, bid, etc. without transaction fees.
Core Team
Update….
Investor
August 17, 2022: Tessera announced successful raising of $20M in Series A funding round led by Paradigm
Tokenomics
Update…
Information Channel of Tessera Project
- Website: https://tessera.co/
- Twitter: https://twitter.com/tessera
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Discord:
summary
The Tessera platform helps increase liquidity in the NFT market as well as giving users access to Blue Chip NFTs through sharding. Hopefully the information I provide in this article has helped people gain interesting knowledge about Tessera.
