Post
Topic
Board Altcoin Discussion
Re: How does owning Art Blue Print in NFT Works?
by
shinratensei_
on 07/10/2024, 03:29:40 UTC
I agree, fractional ownership is not a new phenomenon; however, its usage in the NFT space does, indeed, put it into the lime light. Especially with things like art pieces. As we have discussed, the entire thing would come pretty handy for the investors and may open different financial opportunities. However, raising right concerns arises with the 'new platform'. Protection of the integrity of that storage place which has NFTs is paramount. Otherwise, there will always exist risks when profit-making is concerned. Also, with that, the NFT glitches would mean losing very precious NFTs and that's what will deter many investors. Anyways, that is something that investors should do. It is in a quest to ensure that the platforms they are using will be strong on matters of security, transparency, and accountability.

On the bright side, these platforms are gaining momentum. But, as we've seen, things It's working well, however, it's still for early adopters. That has to be approached with care and weigh the risks as well as the potential rewards.
Talking about the security, I think as long as there's ongoing effort to keep auditing their contract code to reputable auditor it will be sufficient, so far, I've seen the new project that consistently audited their smart contract never got that much problem with exploit and hacking.
it seems defi has been building strength in the security aspect, keep on patching the exploit and come up with more robust solution, honestly, it kinda puts me at ease considering I also interact with defi quite frequently.
if any, the concern is on social engineering, since many seem to disregard that aspect, NFT fractional ownership, i'm sure, just as safe as the other, since even popular platform also offer this, such as OpenSea.

as for fractional ownership, really hoping thing could also revolutionize ownership in other fields such as real estate ownership through blockchain, the transparency that blockchain offer could be a great advantage.