While the adoption of cryptocurrencies continues to grow, as evidenced by last year’s bull market, there is still an abundant need to integrate real-world assets onto the blockchain.
Bitsliced’s purpose is to fill this gap by bridging blockchain technology with the physical world. Through Bitsliced’s app and set of smart contracts, Bitsliced, a blockchain-based protocol aimed at the tokenization of real-world assets, will make it intuitive and easy to tokenize and fractionalize assets from different markets such as collectibles, real estate, traditional art, and several other use cases.
Overview of Sliced App
Bitsliced’s flagship product, Sliced, is a SocialFi app and marketplace where users can mint and trade different NFTs (non-fungible tokens) and tokens that represent real-world assets.
Through the Sliced app, anyone can create a digital representation of an owned asset, be it an art piece, propriety, vehicle, piece of clothing, etc. In doing so, Bitsliced contributes to the creation of a parallel digital market that eases the trading of items across borders and unlocks additional value through novel revenue streams.
Leveraging blockchain technology, the Sliced app guarantees an extra layer of security and transparency through all trades. Further down the line, it will be possible to fractionalize and divide ownership of assets through different users (verifiable co-ownership).
The app will be available on all mobile devices, including the iOS and Android operating systems, and desktop users can also access it through the web browser version.
To increase retention and user engagement, the Sliced app will be gamified. Badges and a leaderboard system will be included in the app’s architecture, incentivizing users to keep using Bitsliced’s services.
The Slice app will also include social media elements. Bitsliced will be leveraging an innovative approach to socialization through Bitsliced’s NFT channels. Acting as a personal digital space, NFT channels will enable users to socialize in unique ways while showcasing their portfolios and NFT in a sort of “digital gallery”.
NFT channels will be a place where Bitsliced’s community can hang out, trade, and discuss their favorite topics, be it in real estate, collectibles, fashion, and any other industry disrupted by Sliced NFTs. Bitsliced expects to create a vibrant and active community of investors, collectors, and NFT enthusiasts thanks to the high-profile channels.
Another component of the Bitsliced SocialFi app is staking and yield farming. Several passive income possibilities will be available to SLICED token holders. By staking and helping keep the network running, users can be rewarded with an estimated annual percentage yield (APY) of 15%. Alternatively, SLICED token holders can also earn an expected 25% APY by providing liquidity to Bitsliced’s protocol and marketplace.
The SLICED token will be the cornerstone of the app, powering all trades within the marketplace. Each transaction within the marketplace is immediately rewarded with a 1% cashback, with real estate purchases potentially having up to 8% cashback depending on the broker. The Bitsliced Debit Card will also be introduced, offering a convenient way for users to spend their crypto funds and cashback earnings to make purchases or convert into fiat.
Sliced NFTs – Legal Background
Thanks to Bitsliced’s proprietary Sliced NFT System, we’ll be able to issue universal digital certificates with a seal of trust. All certificates are unique NFTs that represent ownership of a specific asset.
Sliced, alongside its network of partners and brokers, will be responsible for ensuring all the necessary legal due diligence is done beforehand. Bitsliced proprietary code will then check and verify the integrity of the data, and only then will the NFT certificate be minted.