Skip to main content

Amazon invests in the fractional NFT market

15 Dec, 2021
Amazon invests in the fractional NFT market

NFTs make it easy to link copyrights to digital art, but some are too expensive for everyday people. This problem is solved by fractional NFTs, which divide the ownership of the asset into shares. The value of a share is proportional to its size in the total amount of ownership.

Image Source: news.bitcoin.com

It's thought that fractionalised NFTs will make collecting non-fungible assets more accessible to ordinary users. Currently, the size of the fractional NFT market is estimated to be at $213 million. The most valuable is The Doge NFT, with a market cap of $132 million and a fractionalised price of less than one cent.

Image Source: dappradar.com

The most famous fractional NFT platforms are Otis, Unicly, Fractional and Daofi. Last week, WAX blockchain, which is responsible for the startup Dibbs' technical support, tweeted the news about Amazon joining the project. The amount invested by the retail behemoth and the terms of its participation were not disclosed.

Dibbs makes it possible to create digital counterparts of physical sports cards. The client sends the original to the company to confirm ownership and guarantee the transparency of the transaction, after which the client issues a solid or fractional NFT. Tokens are exchanged within the platform. In the event that a 100% stake is reached, the new owner can receive the original or reissue the NFT.

Fractional NFTs tend to significantly increase the value of a digital object, which is why holders of famous collectable cards are increasingly resorting to fractionalisation. Dibbs takes a 2.9% commission per transaction.

Image source: StormGain Cryptocurrency Exchange

This year, the NFT market has grown nearly ten-fold, and its volume now exceeds $2 billion. Its volume could reach $10 billion next year, as more and more companies find NFT interesting for investments. Amongst blockchains, Ethereum continues to lead both in the number of NFT collections, with daily volume exceeding $75 million.

The StormGain Analytical Group 

(a platform for trading, exchanging and safeguarding cryptocurrency)

 

Exchange BTC

Mining icon
Want Bitcoin for free?

Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.

Start mining

Mining icon
Want Bitcoin for free?

Try our Bitcoin Cloud Miner and get additional crypto rewards based on your trading volume. It's immediately available upon registration.

Start mining

Instrument
Rate
Change (24h)

Сайт та всі послуги StormGain доступні також українською мовою.

Перейти