rTokens - A Fungible State of NFTs

rTokens are 1:1 IOU Tokens representing each NFT in a xFRAC Wallet.

We thought of a way where users can easily lock and redeem their NFTs instantly via a fractional NFT platform. Using derivative NFTs that represent fractions of the NFTs posed unpalatable as de-fractioning will require a governance process for the NFT redemption. This process is often very stressful and requires a lot of time. Our next option was to create a 1:1 IOU Token representing each NFT locked in the fractional NFT Vault (xFRAC Wallets). The XRP Ledger Protocol amendment that allows issuer wallets on the XRP Ledger to set buy and sell orders for NFTs and Tokens using their issued Tokens, allowed us to incubate and birth rTokens on the Ledger. The Concept of rTokens is simple as they are the fungible version of every NFT in a particular NFT collection locked in an xFRAC wallet. If the MARIS NFT Collection is on xFRAC, we will create an xFRAC wallet that issues one rMARIS for every MARIS NFT it receives, and in turn, the rMARIS Tokens are tradeable against XRP and our utility asset XFC. rTokens will also have an AMM liquidity Pair with XFC to boost the demand for XFC in the NFT ecosystem. rTokens allows for easy de-fractioning (NFT redemption) because every 1 unit of a rToken equals an NFT in the vault. Redeeming an NFT on xFRAC requires one rToken of that NFT and a fee in XRP or XFC. rTokens allow the following to be possible:

• With rTokens, NFTs are owned by multiple XRPL Wallets.

• They increase the liquidity and tradability of NFTs via the XRPL Native Order Book DEX and AMM.

• They allow for easy NFT redemption from xFRAC wallets, as each unit of a rToken represents an NFT.

rTokens are the future for NFT liquidity and ownership on the XRP Ledger.