DAT NFT Standard
Last updated
Last updated
A key feature of KiX DATs is their use of the NFT standard, which has a 'semi-fungible' feature and allows the KiX platform to structure DAT NFTs within collections. This model enables all DAT NFTs within a collection to follow a standardized pricing mechanism, called a bonding curve, that is controlled by demand and supply. This collective pricing feature, which is directly coded into the smart contract, is an essential distinction from the more common NFT standard.
In practice, this means that within the KiX platform, traders can buy as many DAT NFTs of a single footballer as their $KIX balance permits. However, due to the standardized bonding curve, every individual trade will affect the collective price of that specific footballer's entire NFT DAT collection. This causes each uniquely identified DAT NFT, for a particular footballer, to have the same collective price at any moment in time.
The singular price can be seen as the 'normal' price for a DAT NFT; it allows traders to build DAT positions in footballers within the KiX platform and utilize portfolios using fungible pricing methods, hence the term semi-fungible.
For example, if Trader A buys 100 MBappe DAT NFTs, each NFT within the position will have been a different TRADE price along the bonding curve. However, all 100 DAT NFTs will have a single MARKET price due to the collective pricing mechanism. The result of this is there is a single market price that is used as a '' against the executed trade price along the bonding curve.
* PLEASE NOTE: Under regulation KiX is not offered or promoted to UK users or residents. *