What is a sorted NFT? | NDTV Gadget 360

After the popularity of NFTs soared among collectors, a new trend is for subdivided NFTs (non-fungible tokens) that allow someone who owns an asset on the blockchain to split ownership into smaller pieces. It is an appearance. NFTs are digital assets with unique fingerprints (for oversimplification) that can be identified even if the file is copied. Thus, the person who owns the original work of digital art remains the owner, as if he had purchased a physical painting. Someone else can make the print at any time, but the original is recognizable. As the value of NFTs goes up (for example, rapper Snoop Dogg reveals that he’s calling NFTs under his pseudonym and is worth more than $ 17 million or about Rs 12.5 billion), people are now watching It is natural that there is. How these purchases can be split between groups for NFT projects where people believe their value will increase over time.

“It’s as if the Louvre decided to subdivide the Mona Lisa and distribute some of it for the general public to own. However, unlike the Louvre, the co-ownership of art is actually a code. It’s only possible using art, “said Jamis Johnson, chief executive of an organization called Pleasr DAO, which represents member NFT collectors. Said, Explain the concept.

The subdivided NFT concept aims to allow retailers of works of art to enjoy the benefits of experimenting in crypto space. Fractional NFTs are further believed to play an important role in the democratization of crypto culture.

NFTs can be divided into millions or even billions, so many can buy and own some of them. Holders can later exchange their shares for higher prices and make a profit on their initial investment.

Memes behind popular cryptocurrencies in June of this year Dogecoin It was sold as an NFT for $ 4 million (about 29.5 rupees). When the Dogecoin NFT was subdivided in the second half of September 17 billion When the parts were auctioned, their value exceeded $ 220 million (Rs 1624).

For NFT owners, price discovery, asset liquidity, and investment diversification are three major benefits when considering asset segmentation. report According to “NFT fragmentation is most likely destined to disrupt not only the world of art and games, but potentially the world. Decentralized finance (DeFi) And the investment as a whole, ”says the CoinBureau report.

NFT subdivision is mainly Ethereum – This is the second most valuable cryptocurrency in the world.

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Cryptocurrencies are unregulated digital currencies, not fiat currencies and are subject to market risk. The information provided in this article is not intended or constitutes any financial advice, transactional advice, or other advice or recommendations provided or endorsed by NDTV. NDTV shall not be liable for any loss resulting from an investment based on the recognized recommendations, forecasts or other information contained in the article. What is a sorted NFT? | NDTV Gadget 360

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