[PRESS RELEASE – Majuro, Marshall Islands, 29th June 2022]
Gate.io, one of the world’s earliest cryptocurrency exchanges and a leader among digital asset platforms, is introducing Fractional NFTs service and blue-chip NFT crowdfunding features on its Gate NFT platform.
As the world of Web 3.0 unfolds, NFT collections are highly sought after, especially PFP NFTs. The fundamental reason for their popularity is based on popular culture, and the potential monetary effect it brings along. Popular NFTs have high collection value and excellent appreciation, though the lofty price tag often prices out the casual NFT fanatic. The introduction of fractional NFTs is the solution to the widespread adaptation of popular NFTs and solves liquidity problems for some pieces.
Gate NFT will launch fractional NFTs products and release blue-chip NFT crowdfunding functionality. The first phase of the fractional blue-chip NFT crowdfunding will feature MAYC (Mutant Ape Yacht Club) collectibles with a planned launch next week. Subscription for the MAYC will begin on June 29. The pilot series of fractional NFT products will be blue-chip NFT collections that have historically high demand in the open NFT market. Successful subscriptions can enjoy corresponding fractional NFT’s avatar rights and low entry costs. It puts the subscriber in the club of some of the most prestigious class of NFT collectors.
Fractional NFTs are very friendly to mass NFT Fanatic and NFT novices who can obtain high-priced blue-chip NFT collections without investing huge amounts of money. It lowers the general public’s threshold to participate in the creation and circulation of NFTs. As a result, fractional NFTs are a better choice to improve NFT liquidity, rationalize their price range, or popularize their investment opportunities.
Fractional NFTs are NFTs where the ownership is broken down into fragments, allowing each fragment to be sold individually. Each buyer of these fragments will own only a fraction of the NFT’s overall value, enabling investors to buy NFTs that might otherwise be unaffordable and allowing holders to immediately cash out part of the NFT’s value without necessarily having to sell it outright.
Blue-chip NFT crowdfunding function
After an NFT is selected, the NFT trading platform will initiate crowdfunding subscriptions. Users can then participate in crowdfunding by subscribing for a chosen amount. If the project is successfully subscribed within the validity period, the platform will purchase the NFT and issue NFT fragments proportional to the user’s purchase amount. If the project subscription fails, the user’s funds will be returned.
The first phase of Fractional NFT-#8016MAYC subscription
The first phase of Gate NFT’s fractional NFT selection is MAYC #8016, the number of fractions is 1,000, the price is 18ETH (can be subscribed with USDT), and the cost of each piece is 20USDT. Once the subscription is successful, the subscriber will collect the corresponding share of MAYC #8016 fractional NFT and enjoy its value-added benefits.
The Mutant Ape Yacht Club (MAYC) is a spin-off project of BAYC created by the same development team, Yuga Labs. MAYC has a zombie mutation theme, and Yuga Labs claims MAYC is the “ultimate member” of ape-holders. In August 2021, Yuga Labs publicly sold 10,000 MAYC, generating $96 million worth of ETH sales within an hour of going live.
Popular NFT collectibles are often expensive, limiting the transaction volume and circulation of NFTs to a certain extent. The innovation of fractional NFTs can significantly improve the liquidity of NFT collections, rationalizing their prices. On the other hand, fractional NFTs enable ordinary investors and collectors to participate in the market easily. Expanding the audience will also increase the exposure of NFT creators, which is conducive to forming a virtuous circle of innovation and development in the NFT field.
About the artist
The Bored Ape Yacht Club collection is undoubtedly the brightest new star in the current crypto world. Still, most people may have never heard of the lead designer behind this NFT project – the 27-year-old Asian-American Artist, Seneca. For Seneca, she never imagined that this set of works would promote a technological revolution.
About Gate NFT
Gate NFT is the world’s first centralized NFT trading platform, focusing on the creative incubation and asset management of NFT artworks in the field of blockchain digital currency. Through the independent innovation of GateChain public chain and cross-chain protocol, it provides low-cost, high-performance blockchain technology support for global artists and NFT institutions. The Gate NFT trading market covers collectible NFT works in a wide range of fields, such as games, music, art, sports, etc. It supports auction and buy-in-price trading functions, providing artists, ordinary users, and professional NFT projects with NFT trading venues, low-cost coinage, works display, and sales. The total experience of collecting.