- Summary:
- Gate.io exchange has introduced features that will enable ownership of fractional NFTs and crowdfunding for blue chip NFTs. How does it work?
Gate.io exchange has announced the launch fractional NFTs service as well as blue-chip NFT crowdfunding functionality. Both services will be accessible through the company’s Gate NFT platform. Part of the fractional blue-chip NFT crowdfund will incorporate MAYC (Mutant Ape Yacht Club) collectibles. They will be available on the Gate.io NFT platform from next week. The subscription period for the MAYC opens on June 29th.
The Mutant Ape Yacht Club, often known as MAYC, is an offshoot project of the Bored Ape Yacht Club (BAYC) that was developed by the same team, Yuga Labs. MAYC is the “ultimate member” of ape-holders, according to Yuga Labs.
How Gate.io’s Fractional and Blue-chip NFT concept works
Gate.io has certainly brought a disruptive concept with fractional NFTs. Fractional NFTs are NFTs in which ownership is divided into smaller pieces and each piece can be sold separately. Buying NFT fragments allows investors to purchase NFTs that would otherwise be out of their reach. Furthermore, holders can cash in on a portion of their investment’s worth without having to sell their entire NFT.
Subscribing for a specific sum allows users to participate in the crowdfunding for blue chip NFTs. Subscribing to a project earns a user NFT fragments based on the user’s purchase amount if it is within the validity period. The user will get a refund if the subscription fails.
It is possible to acquire high-priced blue-chip NFT collections through fractional NFTs, making them very accessible to mass NFT fanatics as well as NFT beginners. Fractional NFTs are incredibly user-friendly. Gate.io has lowered the barrier for the general people to engage in the creation and distribution of NFTs. Essentially, it is a more effective way to increase the availability of NFTs and justify their pricing.
The blue-chip NFT collections that have always had a strong demand on the open NFT market will make up the pilot series of fractional NFT products on Gate.io. Successful subscriptions can take use of the avatar rights and low entrance prices that correspond to fractional NFT.