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?
from my understanding, when you own fraction of NFT, doesn't mean NFT get split apart, it's stored in a vault, and then the vault will issue the fractional ownership, when you own all the fragments, you can merge and unlock the vault.
What could be the advantages of owning fraction of NFTs like these?
the advantage is that you can profit off something without needing to buy the whole thing, owning an expensive NFT is expensive, but with fractional ownership, you can profit when NFT price shoots up because you also partially owned it at cheaper price, in a nutshell, opening up opportunity for people with not so big capital.