hiBAYC (HIBAYC) is a fractional token of the popular NFT collection, BAYC (Bored Ape Yacht Club). The ERC-20 token allows fractional ownership of one of the crypto markets most valuable and popular NFT collections.

One HIBAYC token represents one-millionth of a share of a BAYC stored in an on-chain BAYC Meta-swap pool operated by Fracton Protocol. The BAYC NFT in this pool can be redeemed for 1 million HIBAYC crypto at any time.

The hiBAYC crypto offers an opportunity for users to exert fractional ownership over one of the most coveted digital collectibles in the NFT market. Fracton Protocols unique venture enables fractionalization as a novel way of making blue-chip NFTs more accessible for everyone to own.

The Fracton Protocol is a fractionalization trading protocol that bridges the gap between the centralized and decentralized worlds. Their venture has not only fractionalized ownership of BAYC NFTs with hiBAYC tokens. Still, it has also launched similar opportunities for users to own a portion of other high-value NFTs, including collectibles from CryptoPunks, Sandbox LANDs, Ethereum Name Service domains, and more.

hiBAYC is an ERC-20 token standard designed on the Ethereum blockchain. Each hiBAYC tokens value is pegged to one-millionth of a BAYC owned in the Meta-swap pool of Fracton Protocol.

Every HIBAYC crypto represents one-millionth of a share of a BAYC stored in the Fracton BAYC Vault, available for trading and ownership as an exchange-traded fund (ETF). The circulating supply of hiBAYC tokens in the market is the same as the cryptos total supply, meaning that all of its tokens are always in circulation and available for buying, trading, and owning.

With a lack of a hard cap or a fixed max supply, Fracton Protocol adjusts the total supply of the fractional token based on the actual amount of BAYC NFTs it owns in its Meta-swap pool. The BAYC NFTs stored in this pool can be redeemed by exchanging an equivalent number of Fracton Protocols hiBAYC cryptocurrency.

The concept of the fractional NFT via hiBAYC NFT ETFs makes exclusive blue-chip NFTs more accessible to smaller crypto investors with limited funds. In addition, fractionalizing the ERC-721 NFT token makes it even more tradable and improves liquidity in the market.

The fractional ERC-20 token hiBAYC also benefits from lower trading fees on the network. The decentralized operating model of Fracton Protocol and its Meta-swap pool also makes the ownership and management of these high-value digital assets more transparent, increasing overall trust in the system.

The concept of the fraction token-backed hiBAYC crypto was introduced by the Fracton Protocol team in early July 2022. By August 2022, the HIBAYC token was listed for trading on BYDFi and Uniswap.

The BYDFi Exchange became the first exchange worldwide to introduce the concept of fractional ownership via USDT-based NFT ETFs. Our platform partnered with Fracton Protocol to launch the NFT ETF Trading Zone for this initiative.

The company also coined the term fractionalized fungible tokens (FFTs) to denote the cryptocurrency, which represents a portion of ownership of the original blue-chip non-fungible token.

Given the increasing popularity of non-fungible tokens (NFTs) in the crypto market in recent years, there is a promising opportunity to make this asset class more accessible. Fracton Protocol's hiBAYC token and other offerings, which fractionalize ownership of blue-chip NFTs, have significant potential as an investment opportunity.

The hiBAYC price could experience an uptick as the value of the BAYC collection increases. In turn, the token could contribute to driving up the value of the blue-chip NFT collection itself.

As the demand for HIBAYC rises, the potential for crypto investors to own a BAYC NFT via this route also increases. Additionally, since the HIBAYC value is pegged to one-millionth of each BAYC owned by Fracton Protocol in its Vault, an upward trend in the BAYC price could also drive the price of hiBAYC upwards.

In addition to the growing interest in BAYC and HIBAYC among investors, the HIBAYC price could also rise when the market sentiment towards cryptocurrencies, especially NFTs, improves. A bullish sentiment raises investor confidence, boosts buying activity, and drives up the prices of HIBAYC and other related assets.

While it is impossible to provide an accurate HIBAYC price prediction for any duration, this cryptocurrency has several fundamental factors that support a potential uptrend in its value in the future. As of September 2022, the live price of HIBAYC remains below its all-time high of over $0.15.

However, increased interest in trading or owning the token among crypto investors and NFT enthusiasts could lead to the HIBAYC value reclaiming its highest price and reaching new highs. This would require a positive market sentiment towards digital assets and NFTs.

The price of HIBAYC could also experience growth as the token gets listed on more cryptocurrency exchanges for trading. New listings, especially in the NFT space, which is one of the industry's most active sectors, always generate interest and increase on-chain activity around the token. This is a critical factor that could support the HIBAYC price statistics.

The HIBAYC token represents an opportunity to own a fraction of a highly valuable BAYC NFT. It was created to lower entry barriers and make blue-chip non-fungible tokens (NFTs) more accessible to the wider crypto community.

The high price of BAYC NFTs is a significant deterrent that limits trading volume and interest in the collection. While exclusivity is offered, keeping them out of reach of true enthusiasts goes against the original vision of decentralization that digital assets were designed for.

Fracton Protocol's HIBAYC token allows even crypto investors with limited capital to own a portion of an exclusive BAYC NFT. With each token valued at 1/1,000,000 of a BAYC NFT, the HIBAYC token makes it easier to exert fractional ownership over a premium NFT.

In addition to fractional ownership of a BAYC NFT, the HIBAYC crypto is also an exciting asset to trade in the market. You can buy or sell HIBAYC against other cryptocurrencies, in addition to long-term investment if you believe in the future potential of the project and the BAYC NFT series. Before trading HIBAYC, review the HIBAYC to USD price, market cap, circulating supply, 24h volume, and the latest crypto news.

As of September 2022, the circulating supply of HIBAYC coins is 9 million. The circulating supply matches the total supply of this cryptocurrency and varies based on the number of BAYC NFTs owned and stored in the Meta-swap pool of the Fracton Protocol Vault.

Since the value of each HIBAYC token is pegged to a BAYC NFT at a rate of 1 BAYC: 1,000,000 HIBAYC, whenever the total number of BAYC NFTs owned in the Meta-swap pool increases, the Fracton Protocol adjusts the circulating supply of the HIBAYC token to maintain this peg. This makes the circulating supply extremely dynamic. Conversely, whenever the number of BAYC NFTs in the Fracton Protocol Vault decreases, the total supply of the crypto also decreases accordingly.