seach-icon
  • user-img

    QONEQT in NFT Updates

    21-Nov-2022 12:11 PM


    thumbnail

    How do Fractional NFTs Work?

    A fractional NFT is obtained by splitting a single NFT asset into smaller pieces.
    The code splits the original ERC-721 asset into a predefined number of fractional tokens as ERC-20, which are interchangeable tokens like cryptocurrencies.
    In addition to art, it hosts other collectibles, such as sneakers and rare books.
    The wine and spirits industry is also among the early adopters.
    Another beverage-related platform leveraging fractional NFTs is Crurated which releases curated NFT drops from fractional barrels of fine wine.
    A remedy to the NFT liquidity problem Another critical function of fractionalizing NFTs is to provide liquidity to an otherwise illiquid market because it’s much easier to sell or buy small units of expensive assets.
    Source: NFTNewsToday.com
    #NFT