Post
Topic
Board Altcoin Discussion
Topic OP
How does owning Art Blue Print in NFT Works?
by
AltLord
on 15/06/2024, 08:40:54 UTC
Hey guys... Some concepts are easier to understand than others in the crypto space like owning a wallet and a key! Some others need more attention to details and sometimes there are general assumptions that people know something.

Yesterday I came across Artfi, an art-tech company making valuable art accessible to a wider audience with fractionalization of ownership with NFTs. I'm not sure if they are achieving this with ERC-404 cos there was no specification.

People could purchase portion of a high-value artwork, like those by Picasso or Banksy, instead of needing the full amount. Loads of royalty and industry leaders, including Princess Hend Al Qassemi, Landmark Group shareholder have endorsed it and they have crossed the $100 million valuation since 2022. I have no idea what's their worth is now.

My dilemma is what happens when an individual decides to buy the whole of one particular NFT and the fractional owners sell it to him, does he own the real-life artwork or only an NFT?

What could be the advantages of owning fraction of NFTs like these?

Let me know you POV in the comment section guys... Thanks