Fraktal’s platform is meant to enable fraktional ownership of NFTs by using smart contracts on Ethereum, where a DAO Marketplace supports the community.
In an attempt to help artists through the NFT process and set themselves apart from those currently in the market for digital artists, NFT holders, content creators, legacy art galleries, and crypto investors; Fraktal is a company that has created the first decentralized NFT platform that allows many owners to center around a single NFT, enabling crowdfunding for small and established artists and assets, rather than solely focusing on singular ownership. Rather than only allowing the more financially rich to own a high-value NFT, Fraktal’s mission is to put crypto art investment in the hands of everyone. While some other projects and companies are working on similar decentralized applications (DAPPS), Fraktal is the first platform for shared ownership. It enables fraktional ownership of NFTs by using smart contracts on Ethereum, where a DAO Marketplace supports the community.
DAOs are reshaping the way centralized corporations and organizations work. Members of decentralized autonomous organizations (DAOs) rely on smart contracts to enforce rules and run procedures in ways that traditional organizations can’t without exposing themselves to considerable human error and fraud risks. As more scalable blockchain software is produced and more jurisdictions worldwide adopt legal frameworks to protect the interests of DAOs and their members, DAOs’ impact could rise considerably. That, combined with the concept of shared ownership, makes Fraktal’s new platform ahead of the game and more accessible to any art enthusiast and artist out there.
Gone are the days where artists needed to rely on traditional gatekeepers to present their work to the public. With NFTs and DAO marketplaces, they can now gain power back in an economy where they previously had very little influence or control. They also have the chance to earn multiple revenue streams and celebrate the freedom of self-expression. Not only do they help the artists, but by providing a platform that focuses on shared ownership rather than the conventional view of NFTs, Fraktal has provided a new way for people to view ownership. Rather than believing ownership had to be something physical and they could touch and feel, NFTs, especially under shared ownership, have created a shift for digital art and other forms of online media and have allowed online assets to have scarcity and ownership not be exploited. They bring into the digital world the characteristics that give physical art and assets their value, making original ownership, scarcity, and uniqueness easier to determine online.
For more information about Fraktal’s new shared ownership NFT platform, check out fraktal.io and their Instagram for more updates.