30/11/2021 Can You Buy a Part of an NFT? Supporting Artists from Around the Globe

A non-fungible token, or NFT, is distinguished by the fact that it is uniquely indivisible. The cornerstone of anything non-fungible is that it is one-of-a-kind and non-transferable. Furthermore, each NFT can only have one owner, and no two NFTs are alike.

Thus to switch it up and make NFTs even more desirable, the notion of fractionalized NFTs (F-NFTs) was born. Allowing NFT owners to mint tokenized fractional NFTs and share asset ownership with others. A high-value item, such as real estate or a luxury boat, is sometimes out of reach for the average person.

It's here that fractional NFTs come into play, allowing users to invest a decent amount of money to earn partial ownership of a high-value asset.

Anyone may possess a high-value asset at a reasonable cost, thanks to fractional NFTs. So, how do you fractionalize an NFT? For example, to fractionalize a purchase on Ethereum, the NFT owner splits the ERC-721 (indivisible and non-fungible) token into numerous ERC-20 (fungible and divisible) tokens. As a result, each ERC-20 token represents a percentage of the asset's NFT.

A key industry that may benefit from F-NFTs is art; this ensures swift monetization and market expansion. Collectibles, real estate, gaming, and even music are other businesses that might benefit from this new product type.

And that’s where Gofungibles steps in as the harbinger for up-and-coming artists. Their unique selling point is their capacity to break down barriers to entry and silos by offering fractionalized FT ownership and accepting NFTs from any artist or content creator.

GoFungibles tapped into Fractionalized NFTs at the right time as they are a novel addition to the Defi and Blockchain economy's fast-growing industry. GoFungibles makes it easier to sell a valuable and pricey NFT to several customers quickly.

This is accomplished by allowing NFT token owners to divide their ERC721 tokens into ERC20 Tokens or Fungibles tokens. The fractionalized chunks of NFT are then traded on the GoFugibles marketplace after being locked within a smart contract. This strategy also aids in increasing the NFT's overall value.

Furthermore, there’s another incentive associated with artists- you may donate to your favorite artists, which provides a terrific incentive for them to create more high-quality work. This functionality is available outside of the blockchain environment, but it is not used in the FT markets.

GoFungibles strives to promote and spotlight talent while also allowing them to make more money for their assets. A simple interface that will enable members of the public to give to their favorite artists and non-profits. The cash given will be paid to the artist and added to NFT's worth.

All in all, it is a platform packed with functionality that is committed to delivering cutting-edge NFT monetization options and experiences to existing and new NFT users. Some of the following supplementary features will be used to incentivize the creators of these NFTs better while also fostering a competitive environment:

  • With the debut of the platform- provide an exclusive range of NFTs.
  • For special FT drops, collaborate with well-known musicians and influencers.
  • Assist the artist in displaying their work (paid ads).
  • Top sales will get access to media blasts, mentions in email newsletters, and even tailor-made content such as press releases.
  • When an asset is exchanged numerous times, smart contracts keep track of the asset's current and past owners.

As a result, GoFungibles being a terrific platform, allows emerging artists to explore their potential in this competitive field. Simply by earning leverage on their art, honing their NFT abilities, and receiving the exposure that their creativity so richly deserves.

Arts

https://cryptonews.com/news/can-you-buy-a-part-of-an-nft-supporting-artists-from-around-the-globe.htm

Interesting NFTs
Lim Hedra #1/20
Parrot on a perch with two other ornamental birds
Katsushika Hokusai (1760-1849) Parrot on a perch with two other ornamental birds 1797-1806 - Japan
My Other Half | Inspired by Minecraft: The Last Minecart (2011)
Almost every year, we capture ourselves in a way that no photo or video is capable of: with a photoscan. If you dig through our archives, you'll find many of them and can see exactly how we change over time. Sam Gorski, Creator | I wanted to find the oldest scan of myself and put him side-by-side with Sam from the present. While it is hard to look at it and not miss the years past, at the same time, this gives me hope for the future by embracing and cherishing the change in my life. How would I have gotten this far without him? About This Piece | Sam on the left was captured in 2014, while Sam on the right was captured last week (2021). This work represents the personal, creative, and emotional journey in all of us, and the hope that ourselves tomorrow may be better than ourselves today.
Experimental No.1 #3074
Changes is the only thing that hasn’t been changed. From time to space to the thoughts of human beings are constantly changing. I transformed a Silver Gelatin Photogram (a piece of physical photograph made of alternative photographic processes) into a digital image that even can produce endless changes. This is based on the change in my way of seeing the world. It is difficult for individuals to completely isolate themselves from their own inherent culture, this ingrained imprint not only stems from families but also social and historical influences. Besides, the rapid innovation of science and technologies directly drives the world today to inevitably facing collisions and fusions in multiculturalism. Studying classical philosophical text allows me to apply the dialectical method to tease those open questions, and finally ground on my artworks. All things complement each other and balance in the collision. Changes is the key. Isn’t the development of human civilization that come to the present evolve in indistinct ways?
Wink
The eye of providence blinks. Originally posted to tumblr June 26, 2012.