Wrapped NFTs
One of the cool projects we have been working on is the ability to “wrap” assets in an NFT — imagine creating a “gift box” filled with all sorts of assets (tokens and NFTs), and then wrapping the lot into a single transferrable and tradeable NFT. This is perfect to allow non-EXT tokens easy access to marketplace features via our eDEX protocol.
We are proud to announce that you can now wrap your ICPunks, allowing you to trade them on the Entrepot.app marketplace.
How does it work?
Simply send your ICPunk to your StoicWallet, click on Wrap NFT and that’s it! You now own a Wrapped version of your ICPunk! You can select Unwrap to revert back into the real ICPunk NFT. It’s that easy! View more detailed instructions below.
Is it safe?
As safe as anything is with crypto, but use at your own risk. Our smart canister is non-custodial and ensures that the owner of the wrapped token has full ownership of the underlying asset (ICPunk NFT). You can view our wrapper standard here. For added security, our canister will be pointed at a blackhole shortly, making it immutable as well.
Why Wrap ICPunk NFTs?
The major advantage is that the wrapped NFT is based on our EXT standard, which means you can easily list your ICPunk on the Entrepot.app marketplace. EXT utilizes an open exchange protocol built directly into our token standard, retaining more control during something like a marketplace exchange. Entrepot.app is simply a frontend view of the exchange protocol in action, and is currently the only NFT marketplace on the Internet Computer!
Step by Step Instructions:
- You need to send your ICPunk NFT to your StoicWallet — make sure you copy the Principal ID, and send your ICPunk to this.
2. After a few seconds, your NFT should show in your wallet automatically. You can click the “Reload” button to automatically look for tokens. To wrap your NFT, click on the options icon (3 dots), and select “Wrap NFT”.
3. The wrapping process can take a few minutes — this is because we have to make three frontend calls and two inter-canister calls. Once Wrapped, you will see a “Wrapped ICPunk” in your wallet. This token can be traded on the Entrepot.app marketplace, or unwrapped (to return the original ICPunk NFT).
NOTE: If you want to send your ICPunk back to a different wallet, like Plug, you will need to Unwrap it first
