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Record Doge NFT Sale Highlights Growing Demand for Fractionalization

Only three months after the non-fungible token (NFT) with the image of the original Shiba Inu Doge Coin Meme was sold for about $ 4 million, NFT announced that after some of its assets were sold for more than $ 11,000. Worth more than $ 225 million. It’s ether.
Investors will quickly raise the price of doge NFTs to record levels by splitting doge NFTs into about 17 billion tokens called DOGs and selling 20% ​​of the offers at 24-hour auctions. I was able to. ..

This opportunity reflects the growing demand from investors for NFT split ownership, a new and easy way to enter the increasingly expensive and volatile NFT market. Critics have questioned the potential risks surrounding this NFT innovation, a trend that has increased in recent months.
In sorting, NFT owners deposit their NFTs in a safe on one of the NFT sorting platforms so that they can store their ERC-20 tokens. The owner of the NFT also determines the total supply of mint ERC-20 tokens. Unlike NFTs, which generally apply the Ethereum ERC-721 token standard, ERC-20 tokens are fungable and can be exchanged, transmitted and received by smart contracts running on the Ethereum blockchain.
The NFT division “provides broad access to the community and helps make NFT’s assets productive,” said Delphi Digital, co-founder and CEO of Anil Lulla.
Pleasr DAO, a group of investors who bought Doge NFT for 1,696 ethers (about $ 4 million at the time) in June, auctioned 20% of the total $ DOG offer on the platform (about 3.4 million DOG tokens). .. Decentralized fund-raising miso. This group sorted doge NFTs through a platform called Fractionional Art. PleasrDAO continues to hold a majority ownership of $ DOG.
Investors behind DAO, a decentralized autonomy, include venture capitalist Su-Hu from Three Arrows Capital, Tom Schmidt from Dragonfly, and Robert Leshner from Compound.
Fractional NFTs used to sell at surprisingly high prices. Another NFT related to Doge Meme sold for over $ 86 million at the end of August after being split into tokens. This is called the NFT Fighter Doge (NFD).