Ice

Ice is an experimental non-fungible token (NFT) project implemented on the Radix blockchain using RRC-404 - an implementation of the ERC-404 standard built with Scrypto, Radix's asset-oriented smart contract programming language.

Overview

The key innovation of ICE is allowing tokens to transition between fungible and non-fungible states through "freeze" and "melt" operations. This enables combining the benefits of NFTs (unique digital artifacts) and fungible tokens (enabling fractional ownership and trading).

The maximum combined supply of ICE across fungible and non-fungible tokens is capped at 1000. The proportions of different NFT rarities are dynamically maintained based on the current circulating supply of NFTs when new ones are minted or melted back into fungibles.

Features

• Maximum 1000 total tokens (NFTs + fungibles)
• Convert between fungible and NFT via "freeze" and "melt" operations
• Constant percentage of each NFT rarity maintained
• 1 XRD royalty charged per freeze/melt operation

Benefits

• NFTs can provide liquidity to DEXs like Ociswap via their linked fungible tokens
• DEX liquidity increases overall market liquidity and price discovery
• Fractional ownership enabled by holding fungible token amounts
• Incentivizes NFT creators via royalty stream

The ICE project demonstrates new possibilities opened up by Radix's unique asset-oriented programming model, aiming to enhance NFT liquidity, ownership models, and monetization for creators.