Exchange NFTs for shards, trade them as ERC20 tokens, earn yield through AMM fees, and redeem NFTs anytime: bringing liquidity and yield to NFTs
NFT
Joined August 2025
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Shard is still being built and not yet ready for launches. The Ethernals team had planned to move ahead sooner, so we’ve agreed to part ways and let them pursue their roadmap independently without hybrid feature
We respect their work and community, but Ethernals will not be launching on Shard
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Shard is focused on doing this the right way. We’re building the best protocol for liquid NFTs: secure, scalable, and open to everyone
When we launch, it won’t just be another NFT drop. It will be the new standard for how NFTs are owned, traded, and yield-bearing
The future of NFTs is liquid, and Shard will set the bar
Most NFT mints over the last 2 years showed the same problem:
– very few holders actually want to keep the NFTs
– most are flipping fast
– liquidity is thin because sales rely on P2P orderbooks
That’s why liquidity keeps flowing back to AMMs and liquid tokens. Pools make it easy to enter and exit, while NFTs stay stuck with bids/asks
Liquidity begets liquidity, and that’s exactly what Shard brings to NFTs. Turning them into ERC20s that can trade in AMMs, generate yield, and scale to millions of holders
imo the Cerebro mint + aftermath are a *perfect* case study for why most liquidity left NFTs and moved back to AMMs/liquid tokens
(original migration was DeFi summer/AMMs -> NFTs. The pendulum has swung back violently...starting in 2023)
as evidenced by price action, a substantial portion of the minters had no intention of actually holding onto the NFT - they wanted a quick flip.
Game is game, and that's the behavior of the vast majority of ppl onchain in *any* current market - NFTs, memes, alts, etc.
This is perpetuated by "alpha" groups and botting crews...effectively cornering sizable chunks of supply of any perceived "hot" mint...which doesn't seem all that different from trench groups/etc until you understand the kicker
The kicker - AMMs/liquid tokens are *far more liquid* due to LPs than NFTs which rely on bids/ask for entries/exits
Constantly available curve pools are 1000000% better for entering/exiting positions than discrete bid/asks
Through this lens it becomes extremely obvious why the markets have shifted.
Liquidity begets liquidity
To recap:
-> Hardly anyone wanting to actually hold the NFTs
-> quick selling because game of money chicken
-> extremely small liquidity to absorb sells bc it requires p2p instead of p2LP
-> this phenomenon has been ongoing for 2 years now
-> much liquidity realized this a long time ago
-> liquidity moved to a more efficient entry/exit speculation vehicle (liquid tokens with AMMs)
-> negative reinforcement cycle continues indefinitely on vast majority of collections unless/until holders win and quick flippers are painfully sidelined....which is the exception rather than the rule in 2025
This is not a commentary on the actual mint/team/etc - I love that Mav was able to fully mint out and get runway for building out the product more. It's general commentary on market pyschology and observations on how traders have migrated and adjusted positioning over time
Shard has a $1,000,000 treasury
Our goal: create shards of every NFT collection
Anyone can shard an NFT and earn yield or trade, but we’ll kickstart it ourselves. We’ll use the treasury to buy NFTs and create the first shards, seeding liquid markets for the community
Which collections should we start with?
A Pudgy Penguin costs around 12.5 ETH (≈ $52,000)
That puts it out of reach for most, and with just $1,000, you can’t buy one outright
But with Shard, you can: each Pudgy is broken into 1,000 tokens, so each token is worth about $52, and with your $1,000, you buy ~19 tokens (that’s ~1.9% ownership)
You hold your stake, trade it on @uniswap markets, and increase your share over time. When you collect all 1,000, you redeem an NFT
Shard opens collections to everyone, not just whales
Here’s how it works:
– A holder gives an NFT to Shard
– It’s fragmented into 1,000 tokens (for example, 1 PUDGY into 1,000 $shardPUDGY)
– Those tokens can be traded in @Uniswap liquid markets like any ERC20
– Anyone can buy fractions: 0.1%, 0.01%, whatever they want
– Collect the full 1,000 tokens and redeem them for an NFT from the vault
This means ownership is no longer capped by supply, and instead of maximum 1-10K holders, a collection can have infinite holders
That scale builds bigger communities, drives liquidity, and creates price discovery for NFTs