Ok, so there are these things called “NFT” or “Non-fungible Token” They are a type of token that lives on the Ethereum blockchain. Normally a token on Ethereum is like an ERC20 - this is a token where the creator sets the rules for using it, and issues some amount of the token, say 1 billion tokens. ERC20s are traded on exchanges, or there is also a new way to trade them called decentralized exchanges (more on that later) NFTs are a token that signifies ownership of some piece of digital property - like a digital image or piece of music. An NFT comes in one piece - it has one owner, and it is one token. If someone buys an NFT for $10,000 there is only the single NFT they have. They can then try to re-sell it for another price. They will though have to sell the whole thing at once, as it’s a unitary object, so he will have to find a buyer who will pay more than $10,000.
Here’s where Nafty enters the picture. Nafty has a set of Smart Contracts that can take possession of the NFT in lieu of a single owner. Sort of like the NFT becoming divisible, or shall we say “Re-Fungible”. That’s the term “RFT”. The seller enters their NFT into the Nafty Platform. The NFT is converted to an RFT via our proprietary Smart Contract system. Shares of this RFT are issued as ERC20 tokens ("RFT shares") specific to the parent NFT.
NAFT tokens can be used to participate in the purchase of these RFT shares! Normally DAI or ETH are accepted, but if you use NAFT to purchase RFT shares, your tokens count double. That is 1 ETH worth of NAFT can purchase 2 ETH worth of RFT shares, giving you a whopping 100% advantage. Any NAFT that is used in the purchase of RFTs is programmatically burned, reducing the total supply and making the resulting NAFT worth more. Additionally, each sale on the site will generate fees for the Nafty Platform. A part of these fees are automatically disbursed to all NAFT holders. That’s right, the more sales that are made, the more NAFT you hold, the more income you receive.