The bull market of last year showed how widely used cryptocurrencies are, but there is still a great need to incorporate physical assets onto the blockchain.
The goal of Bitsliced is to close this gap by connecting blockchain technology with the real world. Bitsliced will make it simple and intuitive to tokenize and fractionalize assets from various markets, including collectibles, real estate, traditional art, and several other use cases, through its app and collection of smart contracts.
Summary of the Sliced App
The main offering from Bitsliced is called Sliced, a SocialFi app and market place where users can create and exchange various NFTs (non-fungible tokens) and tokens that stand in for physical assets.
Anyone can create a digital representation of an owned asset using the Sliced app, be it an artwork, a piece of property, a car, a piece of clothing, etc. By doing this, Bitsliced aids in the development of a parallel digital market that facilitates the exchange of goods across international borders and creates new opportunities for value creation.
The Sliced app ensures an additional level of security and transparency throughout all transactions by utilizing blockchain technology. In the future, it will be possible to fractionalize and divide asset ownership among various users (verifiable co-ownership).
All mobile devices, including those running the iOS and Android operating systems, will be able to access the app, and desktop users can do the same by using the web browser version.
Unique Qualities
The Sliced app will be made more engaging and gamified to improve user retention. The architecture of the app will include leaderboards and badges to encourage users to continue using Bitsliced’s services.
Social media features will also be present in the Slice app. With the help of Bitsliced’s NFT channels, socialization will be approached in a novel way. NFT channels will serve as a user’s personal digital space, allowing for novel forms of social interaction and showcasing NFT in a virtual “gallery.”
The Bitsliced community can hang out, trade, and discuss their favorite subjects in NFT channels, whether they are related to real estate, collectibles, fashion, or any other sector affected by Sliced NFTs. With the help of the well-known channels, Bitsliced hopes to establish a thriving and active community of investors, collectors, and NFT enthusiasts.
Staking and yield farming are additional features of the Bitsliced SocialFi application. Holders of SLICED tokens will have access to a variety of passive income opportunities. Users can receive an estimated annual percentage yield (APY) of 15% for staking and maintaining the network. Owners of SLICED tokens can also benefit from Bitsliced’s protocol and marketplace by supplying liquidity, which is expected to yield a 25 percent APY.
The SLICED token, which powers all marketplace transactions, will serve as the app’s main building block. With real estate purchases having the potential for up to an 8 percent cashback, depending on the broker, each transaction within the marketplace is immediately rewarded with a 1 percent cashback. Additionally, the Bitsliced Debit Card will be unveiled, providing users with a practical way to use their cryptocurrency funds and cashback earnings to make purchases or convert them into fiat.
Legal Background of Sliced NFTs
We will be able to issue global digital certificates with a seal of trust because of Bitsliced’s unique Sliced NFT System. Each certificate is a distinct NFT that shows ownership of a particular asset.
Sliced will be in charge of seeing that all necessary pre-legal diligence is done, working with its network of partners and brokers. Only after the data integrity has been checked and verified by Bitsliced proprietary code will the NFT certificate be issued.
What Bitsliced is
A blockchain-based protocol called Bitsliced aims to tokenize physical assets. Anyone can mint, collect, and trade physical goods on the blockchain thanks to its platform.
An innovative business model is provided by the Bitslice ecosystem, which consists of an NFT marketplace and the SocialFi app. Everything from real estate to collectibles to clothing and other tangible goods can be traded successfully on a global scale.
Additionally, the Bitslice app has social and gaming components that give the community the chance to interact, compete, and show off their NFTs in “digital galleries” in addition to the chance to stake and earn SLICE, the native token that powers the Bitsliced ecosystem.
