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Difference between revisions of "Fractional Art"
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(Created page with "== Fractional Art == ===Overview=== Fractional Art is a decentralized protocol where NFT owners can mint tokenized fractional ownership of their NFTs. These tokens then function as normal ERC20 tokens which have governance over the NFT that they own. ===Usage=== Fractional Art is used for multiple different reasons. It allows people who have been priced out of expensive collections to gain exposure to them by buying a part of the NFT. For example if you wanted exposure...") |
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===Overview=== | ===Overview=== | ||
Fractional Art is a decentralized protocol where NFT owners can mint tokenized fractional ownership of their NFTs. These tokens then function as normal ERC20 tokens which have governance over the NFT that they own. | Fractional Art is a decentralized protocol where NFT owners can mint tokenized fractional ownership of their NFTs. These tokens then function as normal ERC20 tokens which have governance over the NFT that they own. | ||
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===Governance=== | ===Governance=== | ||
Once a person owns a fraction of the NFT, they can vote on the reserve price of the NFT. The reserve price is a set price by the holders in which a person can bid to purchase the entire NFT. If the bid is successful, the ETH is distributed to all owners, based on what percentage of the NFT they owned. For example: If a person owned 1% of an NFT that was bought for 50 ETH, they would then receive .5 ETH. | Once a person owns a fraction of the NFT, they can vote on the reserve price of the NFT. The reserve price is a set price by the holders in which a person can bid to purchase the entire NFT. If the bid is successful, the ETH is distributed to all owners, based on what percentage of the NFT they owned. For example: If a person owned 1% of an NFT that was bought for 50 ETH, they would then receive .5 ETH. | ||
[[Category:Protocols]] | |||
[[Category:Indexes]] | |||