Fractional NFT Market Cap Crosses $200 Million
Along with the exponential growth of non-fungible token (NFT) market, a subset of the NFT business dubbed as fractionalization has seen tremendous development. Numerous initiatives are now focusing on fractional NFTs, which are essentially NFT assets that have been sliced into multiple parts and distributed across a community of holders.
As per Sunday’s figures, fractional NFTs have a market valuation of approximately $212.6 million. Non-fungible tokens (NFTs) have grown to be a billion-dollar business, with tens of millions of dollars in transactions occurring every seven days on digital collector markets. Opensea, the top NFT marketplace, reported weekly sales of $483.62 million and lifetime sales of $13 billion last week.
Axie Infinity successfully sold $89.83 million worth of NFTs last week, and $3.79 billion year to far, according to seven-day data. Fractionalized NFTs, which are tokens that have been sharded into tradeable shards, are another expanding segment of the NFT market. The NFT is divided into smaller parts, which some feel lowers the entrance barrier to the otherwise prohibitively costly NFT collections market.
Fractionalized NFTs have existed since the dawn of time, and one of the most notable examples is the notorious LORDKEK from the 2016 Rare Pepe Trading Card collection series. LORDKEK is one of the few divisible Rare Pepe trading cards, with just 10 printed. While only eight LORDKEKs exist today, a handful of individuals hold a single LORDKEK card valued 0.00042069.
Additionally, Bitcoin.com News has covered fractional NFT systems such as Otis, Unicly, Fractional, and Daofi. Additionally, a number of other NFT projects have been fractionalized, and Amazon was said to have supported Dibbs, a fractional NFT project based on the Wax blockchain. On Sunday, December 12, dappradar.com reported that there were several hundred million dollars worth of fractional NFT marketplaces.
Indeed, measurements indicate that the market capitalization of fractional NFT collectibles is now $212,666,688 on Sunday. The Doge NFT (DOG) has the highest market value, at $130.14 million, or 61.32 percent of the aggregate $212.6 million.
The second-largest market cap for a fractionalized NFT is Etherrock #72 (PEBBLE), which has a market value of around $22.73 million. Feisty Doge NFT (NFD) currently has a market capitalization of around $18.29 million, while Ladypunk (LADY) has a market capitalization of approximately $7.67 million.
A deconstructed Meebit NFT (DSMB) has a market capitalization of $4.3 million, ranking it seventh in terms of fractionalized NFT valuations. Ape Punk ($3.13 million), Antique Zombie Shards ($3.06 million), BAYC History ($1.36 million), R64X.com ($1.2 million), and My Alpha Leaderboard ($1.18 million) are more top fractionalized NFT candidates.
While the fractional NFT DOG market has a liquidity of around $20.48 million, the only two fractional NFT markets with a liquidity of more than $4 million are Etherrock #72 and Feisty Doge NFT. On Sunday, LADY had $335.33K in liquidity, while DSMB had roughly $150.7K.