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While the non-fungible token (NFT) economy has exploded in value, another sector of the NFT industry called fractionalization has seen immense growth. A bunch of projects today are dealing with fractional NFTs, which are basically NFT assets chopped into a number of pieces and shared among a community of holders. According to statistics on Sunday, fractional NFTs have an overall market capitalization of around $212.6 million.
Fractionalized NFT Markets Swell
Non-fungible tokens (NFTs) have become a billion-dollar industry as digital collectible marketplaces are seeing tens of millions in sales every seven days. The leading NFT marketplace Opensea saw $483.62 million in weekly sales last week, and $13 billion in all-time sales. Seven-day metrics show Axie Infinity sold $89.83 million worth of NFTs last week, and $3.79 billion year-to-date. Another growing sector in the NFT industry is fractionalized NFTs, which are tokens that have been cut up into tradeable shards.
The NFT is split into smaller pieces and people believe that it lessens the barrier to entry into otherwise a very expensive NFT collectibles market. Fractionalized NFTs have been around since the early days, and one classic example is the infamous LORDKEK from the 2016 Rare Pepe Trading Card collectible series. The LORDKEK card is one of the few divisible Rare Pepe trading cards and only ten LORDKEK cards were issued. While only eight LORDKEKs exist today, a number of people own 0.00042069 worth of a single LORDKEK card.
Bitcoin.com News has further written about fractional NFT platforms like Otis, Unicly, Fractional, and Daofi. Moreover, number of other NFT projects have been fractionalized and reports disclosed last week that Amazon has backed a fractional NFT project built on the Wax blockchain called Dibbs. According to dappradar.com statistics on Sunday, December 12, there’s a couple hundred million dollars worth of fractional NFT markets.
Fractionalized NFT Market Capitalization Surpasses $200 Million
In fact, metrics show there’s currently a market capitalization of $212,666,688 on Sunday that is composed entirely of fractional NFT collectibles. The largest market valuation belongs to the Doge NFT (DOG) with $130.14 million or 61.32% of the aggregate $212.6 million.
The second-largest market valuation belonging to a fractionalized NFT is Etherrock #72 (PEBBLE) which has a market capitalization of around $22.73 million. Feisty Doge NFT (NFD) has an overall market cap today of around $18.29 million and Ladypunk (LADY) has a $7.67 million market valuation.
A dissected Meebit NFT (DSMB) has a $4.3 million market cap making it the fifth largest valuation of fractionalized NFTs. Other top fractionalized NFT contenders include Ape Punk ($3.13M), Antique Zombie Shards ($3.06M), BAYC History ($1.36M), R64X.com ($1.2M), and My Alpha Leaderboard ($1.18M).
While the fractional NFT DOG has around $20.48 million in liquidity, Etherrock #72 and Feisty Doge NFT are the only two fractional NFT markets with over $4 million in liquidity. LADY has $335.33K in liquidity on Sunday and DSMB has around $150.7K.
(Article Courtesy of Bitcoin.com)