# Mechanism

- [Overview](/mechanism/overview.md)
- [Participants](/mechanism/participants.md): Sellers, shard traders, and buyers.
- [Shards (ERC-1155)](/mechanism/shards-erc-1155.md): An ERC-1155 token that represents some prediction on an NFT's future valuation
- [Pricing NFTs for Buyouts](/mechanism/pricing-nfts-for-buyouts.md): When a buyer purchases an NFT listed on the protocol (i.e. acquires all shards).
- [Fees](/mechanism/fees.md)