Bringing your Real-World Assets (RWA) on-chain and converting them into Pi-NFTs on Aconomy is a powerful process that empowers asset owners to unlock liquidity for traditionally illiquid holdings. Here are the steps to convert your RWA assets into Pi-NFTs:
1. Create an Account:
First, create an account on the Aconomy platform if you haven't already. This account will be used to manage your RWA assets and Pi-NFTs.
2. Create an Asset NFT:
Once you have your account set up, you can initiate the process of bringing your RWA assets on-chain. To do this, click on the "Create Asset NFT" button.
3. Fill in Asset Details:
Fill in all the necessary details for your asset NFT. This includes uploading images of the asset, specifying royalty percentages, providing relevant documents, selecting the asset type, and indicating the value of the asset. This information will be used to mint the asset NFT.
4. Mint the Asset NFT:
After completing the details and uploading the required information, you can mint the asset NFT. This action creates a digital representation of your real-world asset on the blockchain.
5. Send for Validation:
To convert your asset NFT into a Pi-NFT, you need to send it for validation. This is a crucial step in the process. You can send a validation request to a respected asset validator within the Aconomy ecosystem.
6. Validator Evaluation:
The asset validator will thoroughly examine the asset and assess its credibility and value. As part of the validation process, the validator may also stake funds as collateral on the asset NFT to enhance trust in its legitimacy.
7. Conversion to Pi-NFT:
Once the asset has been authenticated, validated, and the validator has staked funds, it becomes a Pi-NFT. The added collateral by the validator provides an extra layer of assurance for potential investors and users, making the Pi-NFT more attractive.
8. Enjoy On-Chain Liquidity:
With your RWA asset successfully converted into a Pi-NFT, it is now on-chain and can benefit from the liquidity provided by the Aconomy platform. You can utilize the newfound liquidity for various financial needs, such as investments or other financial transactions.
By following these steps, asset owners can seamlessly convert their real-world assets into Pi-NFTs, effectively bridging the gap between traditional and digital asset markets while enjoying the benefits of blockchain liquidity and NFT trading features.