Floor Protocol provides two methods to fragment NFTs into 1 million μTokens - the Vault and Safeboxes.
The Vault is a straightforward public option. By depositing NFTs into the Vault, users relinquish ownership but gain immediate liquidity through freely tradable μTokens. The Vault method is convenient and accessible.
For those wishing to maintain ownership, Floor Protocol offers Safeboxes. This exclusive method requires staking $FLC tokens first. Users can then deposit NFTs into a personal Safebox, receiving a unique Safebox Key verifying ownership in addition to 1 million μTokens.
Safeboxes separates your NFT Premium and Floor Price.
The key differences are:
Ownership: Vault requires relinquishing it, Safeboxes use Keys to retain it
Accessibility: Vault is public and redeemable by all, Safeboxes have staking prerequisites and can only be unlocked by Keys corresponding to Specific NFTs
Privileges: Safebox Keys are bestowed with special rights like redeeming specific NFTs from Safeboxes
Tradability: Safebox Keys can be traded through auctions and other various tools coming in the near future.
In essence, the Vault provides easy liquidity by fractionalizing NFTs publicly, while Safeboxes fragment them privately to uphold ownership privileges. Both serve important purposes for different needs and strategies.