Fractional is a protocol that makes it easy to share ownership of an NFT or group of NFTs.
Users can lock an NFT (or group of NFTs) in a vault, split ownership of the vaulted NFT into a fixed supply of ERC20 tokens, and then list these tokens on decentralised exchanges.
Here are 5 key insights 👇
[1/5] 1,907 NFTs have been locked in 1,102 vaults on the platform.
[2/5] Fractional tokens of an NFT can be traded on exchanges like Uniswap and Sushi. So far, there has been $949M of trading on fractional tokens.
[3/5] 23k wallets have bought and sold NFT fractional tokens.
[4/5] The combined market cap of liquid fractional tokens (tokens for which there is supply on an exchange so anybody can buy in) currently sits at $347M. This is the sum of (token price x available supply) for all liquid tokens.
[5/5] The fractional token with the highest valuation is ‘The Doge NFT’($DOG). The token currently has a fully diluted market cap of ~$140M.
Bonus: Fraction token holders can vote on a reserve price for the NFT(s) in the vault. If a bid is made that meets this price, then an auction begins for the vault NFT(s). Proceeds from the auction are shared amongst token holders in proportion to how much they own.
The largest buyout on Fractional was the sale of a zombie punk (Party of the Living Dead vault) for $5.8M. The NFT had been bought for $3M by a #CRYPTOCOOKOUT partyBid started by the Oracle of NFTs @sirsuhayb.
1. All dollar amounts are based on the value of the crypto spent in dollars at the time of sale.
2. For a fractional token to be considered liquid, more than 5% of the supply has to be in circulation on exchanges.
Thanks for reading! If you enjoyed the article, like and share the thread on Twitter. It makes a huge difference for reach and I really appreciate it:
Forward this to a friend so they can enjoy some refreshing stats! If this was forwarded to you - you can subscribe here –> niftytable.com
Subscribe to NiftyTable
Subscribe to the newsletter and unlock access to member-only content.