When we set out to develop the basics of NFT fractions, we saw many benefits including greater access to unique assets, stronger markets and the enabling of digital object governance.
XCOPY introduced us to a new, unanticipated angle specific to art: fractions of an artwork may make more sense than multiple editions of that same piece. Here follows a closer look at XCOPY's launch of "The Other Deadness", an artwork fractionalised on NIFTEX.
NFTX: What was your first NFT? How did you get into the NFT space?
Probably a cryptokitty! I was sucked into crypto in late 2017 with the bitcoin hype. I started searching for ways to apply the tech to my digital art, initially I was using Ascribe.io, in early 2018 a few cryptoart platforms began to emerge using NFTs - I was fortunate to be one of the first artists to mint on SuperRare. I’ve been hooked ever since.
NFTX: What interests you in fractions and how do you see fractions used in the future?
With fractions you have the benefit in more people collecting your work. Similar to an edition but without the duplicates that digital editions create.
NFTX: Tell us a bit more about the fractions you’re launching on NIFTEX.
The piece I’ve chosen to fractionalise is an alternate version of ‘The Deadness’ an edition I minted last year on KnownOrigin. My process throws up a lot of variants and this is one I revisited. For the valuation, I took the average sale price of my last 10 SuperRare single editions and decided on 500 "Shards" (fractions).
NFTX: What rare NFT would you want to own a fraction of and why?
AI Generated Nude Portrait #1. The first SuperRare token, a future classic by Robbie Barrat. It's just fitting that the first token was an AI piece by a young artist. It kind of captures the potential of the cryptoart movement.
NFTX: Any features you’re missing on NIFTEX?
It’s too early for me to say, this is an experiment and I’m here to learn. I am excited to see another spin on collecting art. I hope we can reach some new collectors and have some fun.
Thanks for joining us! Find XCOPY and many other collectors creating & trading NFT fractions on NIFTEX.com. The future... is fractional!