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    Fractional NFT Ownership Balloons – Doge Leads the Charge

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    Fractional NFT Ownership Balloons – Doge Leads the Charge

    Fractional NFT Ownership Balloons – Doge Leads the Charge

    Fractional NFT ownership is witnessing an impressive boom as the market’s valuation reaches $493 million, showcasing a significant 61% growth in just 24 hours, alongside a strong trading volume of approximately $65.4 million.

    Among the standout performers are ‘The Doge NFT‘ with a remarkable growth of 71%, ‘Wen’ surging by 39%, and ‘Harambe’ showing a substantial increase of 30%, as reported by CoinGecko.

    The Doge NFT, which sold as one for 1696 ETH (about $5 million at this time of writing) in the summer of 2021, has been offering fractionalized ownership since September 2021 via Fractional.art, making investments in the celebrated meme-coin more accessible to fans for years. 

    Meanwhile, the Wen project on HotsCoin introduces an innovative approach by fractionalizing an iconic poem into trillions of parts, fostering cultural creativity and engagement on the Solana blockchain.

    Fractional Harambe NFTs, on the flip side, pay tribute to the beloved gorilla, Harambe, through iconic photographs by Jeff McCurry, who befriended the animal during its existence. In 2016, Harambe was sadly shot to protect a child who fell into his enclosure, sparking worldwide debates about animal welfare. 

    Source: CoinGecko

    The Fractionalization Process

    The fractionalization process consists of an NFT being confined in a smart contract, which subsequently abolishes the NFT into several tokens according to the owner’s preference.

    Each established fraction denotes a share of ownership in the NFT, making expensive digital collectibles more approachable and within reach of a wide range of investors. Notably, this functionality is accessible through numerous blockchains, including Ethereum, Polygon, Solana, and Cardano. 

    With NFT values surging due to heightened demand, fractionalization is becoming more vital. The fractionalized strategy ensures NFT accessibility, democratizes ownership, and introduces flexibility. It guarantees affordability, resistance to devaluation by other owners, and attractiveness for potential purchasers, even at an escalated bid price.

    Fractionalizing NFTs emerges as a promising trend in the digital asset world, offering more inclusive investment opportunities. Such evolution is currently boosting market growth, signaling more exciting developments ahead.

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    *All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

    The post Fractional NFT Ownership Balloons – Doge Leads the Charge appeared first on NFT Plazas.

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