Cryptopunk #3042 has been taken to pieces

Non-fungible tokens continue to take over the wallets of funds and the info field. But so far, the most hype collections have made even fairly confident investors reluctant to buy.

The average investor at the moment can only look at BAYC, Cryptopunks, Mutant Ape Yacht Club, Moonbirds because of the exclusivity and cost of the collections to ordinary mortals.

But then suddenly, Unique Network comes along, working on Kusama and Polkadot. The company offers everyone the opportunity to own the hottest collections at once. How will it be possible? 

It's all thanks to a fractional ownership system. The idea will divide ownership of Cryptopunk among the more than 56,000 addresses that have signed up to receive a share. “This represents an exciting moment for interoperability. With our fractionalisation of Cryptopunk #3042 we are heralding a new era of NFTs that are accessible, interchangeable and can be shared across chains, and at a fraction of the cost”. - told Unique Network CEO Alexander Mitrovic.

At the moment, the company already owns Cryptopunk number 3042. It was bought for 46.95 ETH in June this year. The funny thing is that the owners of one CryptoPunk on the Polkadot blockchain would be significantly more than all 10,000 original CryptoPunks running on Ethereum. 

This business model is not innovative in the fiat world; mutual funds have been running for a long time. But in the NFT world, this is the first time we have encountered this kind of ownership structure.

If you want to get more news about NFTs, you can always follow our NFT digests here or right on TG Channel by hashtag #WTFisNFT