Scatter.art Announces Integration of DN404 - A New Era in NFT Ownership
Scatter, Web3’s leading artist-first NFT launchpad, is pleased to announce the addition of DN404 contracts to its ever-growing suite of creator tools. As long advocates for robust liquidity and fractionalization mechanisms, the Scatter team views DN404 as a potential great leap forward in the way users think about and interact with NFTs.
DN404 explained
DN404 collections bring together the creativity and collectibility of NFTs with the divisibility and liquidity. mechanics of ERC-20s. Consisting of an NFT contract and a connected “mirror” ERC-20 contract, one’s balance of ERC-20 is directly linked on-chain to the number of NFTs they hold and vice versa. For every NFT a user mints, they will receive one (1) of the corresponding ERC-20 tokens. When the NFT is sold, so are the tokens. If one was to sell 0.5 of their ERC-20, the NFT they hold would be burned and they would be left with 0.5 ERC-20. Conversely, every time a wallet attains one or more entire ERC-20 tokens, an NFT will be minted to their address. The dual nature of DN404 collections opens up a variety of possibilities for sectors such as gaming and collectibles in Web3.
DN404 at Scatter
Teams and creators can now deploy DN404 collections via Scatter.art as simply and reliably as they already do ERC-721 or ERC-1155. This implementation will allow web3 creatives to experiment with and take advantage of the new possibilities opened up by DN404 while feeling secure in knowing that they are using Scatter’s tried and tested contracts and tools.
DN404 also represents the beginning of Scatter’s Contract Marketplace initiative. A project where devs who create useful or creative smart contracts that gain usage, can receive continual income from the use of their code. Once opened, developers who submit and are approved for the contract marketplace will receive 5% of every mint that uses said contract. The DN404 contract as it is being implemented on Scatter was worked on by a team of experienced, well-respected developers including:
- vectorized.eth (@optimizoor)
- Quit (@0xQuit)
- Michael Amadi (@AmadiMichaels)
- cygaar (@0xCygaar)
- Thomas (@0xjustadev)
- Harrison (@PopPunkOnChain)
DN404 integration is the latest part of a continuing effort by Scatter to provide web3 builders with the newest and most innovative creation tools that the industry has to offer. Web3 as a collective has barely scratched the surface of what's possible for 404 collections, and Scatter hopes to facilitate its use by the team to build in innovative new ways.
About Scatter
Scatter is a leading NFT creation platform dedicated to providing artists and creators with the tools and support they need to thrive in the ever-evolving world of Web3.
High resolution Scatter branding images: https://github.com/guminc/media-kit