CryptoPunk NFT will be split into 56,000 fractions
Non-fungible investments keep soaring even given the current bearish moods. Even against the backdrop of a decrease in ETH price, the most desired collections like CryptoPunks or BAYC are still synonymous with everything luxurious and one-of-a-kind in the NFT collector’s world. While each token costs a fortune, these blue-chip ecosystems have long been inaccessible for average NFT investors, until the present day.
To provide every willing collector with a stake in the top-tier CryptoPunk ownership, the NFT infrastructure Unique Network to split the ownership rights among a whopping 56,000 user addresses who have initially signed up for a share.
“This represents an exciting moment for interoperability. With our fractionalization 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,” Unique Network CEO Alexander Mitrovich explained.
The initiative comes to rethink the accessibility to the highly soiled CryptoPunk ecosystem by splitting the ownership of the token and making it accessible through a variety of cryptos, including Unique Network main networks Kusama and Polkadot.
Cryptopunk #3042 was acquired for 46.95 Ethereum ($82,000) by Unique Network in June 2022 at the time of the yearly grandest market recession. But initially launched back in 2018, it was sold as low as $16, gaining tens of thousands of dollars.
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Reposted from: nftcalendar.io