What is Fractional NFT (F-NFT)?
Fractional NFTs are simply a whole NFT that has been split into many smaller fractions thus enabling several users to claim ownership over a same piece of an NFT. This concept of F-NFTs has provided a possibility of co-owning thus enabling several users even with a fund deficit problem can have their very own digital asset.
How Does F-NFT Works?
NFTs are simply a crypto-token that can be created using various token standards like ERC721, ERC998, TRC721 etc. For instance, let us assume that an NFT token is developed on a token standard ERC721. In order to fractionalize this token, smart contracts are used. Based on the program stored on a smart contract, the NFT token made of ERC721 is split into specified number of fractions in the form of multiple ERC20 tokens. This concept of F-NFT is possible on any blockchain network that supports smart contract. This is how an ownership over an NFT can be fractionalized.
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