The market for fractional NFTs is expected to grow significantly in 2021.
While the non-fungible token (NFT) market has skyrocketed in value, a subset of the NFT business known as fractional NFTs has grown exponentially.
A number of initiatives are now dealing with fractional NFTs, which are NFT assets that have been cut into a number of parts and distributed across a community of holders. According to data released on Sunday, the total market value of fractional NFTs is roughly $212.6 million.
Non-fungible tokens (NFTs) have grown into a multibillion-dollar business, with digital collector markets seeing tens of millions of dollars in transactions every seven days. Last week, the top NFT marketplace Opensea recorded $483.62 million in weekly sales and $13 billion in total sales.
According to seven-day stats, Axie Infinity sold $89.83 million in NFTs last week and $3.79 billion year to date. Fractionalized NFTs, which are tokens that have been split up into tradeable shards, are another expanding area in the NFT business.
The NFT is divided into smaller pieces, which many feel lowers the barrier of entry into the normally highly costly NFT collections market. Fractional NFTs have been there since the beginning, with the iconic LORDKEK from the 2016 Rare Pepe Trading Card collectable series being a prime example. The LORDKEK card is one of the few divisible Rare Pepe trading cards, and only 10 were produced. While only eight LORDKEKs exist today, a handful of people hold a single LORDKEK card valued 0.00042069.
In reality, data suggest that there is a market value of $212,666,688 that is totally made up of fractional NFT collectibles. The Doge NFT (DOG) has the highest market valuation, with $130.14 million, or 61.32% of the total $212.6 million.
Etherrock #72 (PEBBLE) has the second-highest market valuation of any fractionalized NFT, with a market capitalization of around $22.73 million. Feisty Doge NFT (NFD) has a market capitalization of about $18.29 million today, while Ladypunk (LADY) has a market capitalization of $7.67 million.