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NFTs have gained immense popularity and are expected to grow even more in the future. Many entrepreneurs from various industries are showing interest in investing in the NFT sector. However, owning some collections can be extremely expensive. Fractionalization offers a solution to this issue by breaking down NFTs into smaller fractions, making them more accessible to a wider audience. The demand for multifunctional fractionalized NFTs is on the rise, making it a trending topic in the crypto community.
What is a Fractionalized NFT?
A fractionalized NFT is an NFT that has been divided into smaller fractions, allowing multiple parties to claim ownership of different portions of the same NFT. These fractional tokens can be traded or exchanged on secondary markets, giving each token holder a stake in the ownership of the NFT.
How do fractionalized NFTs work?
Large digital artworks or collections can be divided into smaller parts using fractionalized NFTs, allowing various owners to hold different portions of these pieces. This enables anyone to acquire a share of ownership in a work or collection that would otherwise be too expensive for one person to buy outright. The fractionalization process involves tokenizing the artwork into multiple pieces supported by blockchain technology and stored on the Ethereum network.
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