Gate.io Blog After Massive Response, Gate NFT Launches Fractional NFTs Phase 2: MAYC #87

After Massive Response, Gate NFT Launches Fractional NFTs Phase 2: MAYC #87

13 July 17:44

Jul 13, 2022

After Massive Response, Gate NFT Launches Fractional NFTs Phase 2: MAYC #87As the bear market continues, Web3 assets like NFTs remain a hot asset in the crypto space. To meet the demand, one of the leading cryptocurrency exchanges, Gate.io, has initiated the second phase of its Fractional NFT project featuring MAYC #87.

The first phase, launched in June, sought to enhance the accessibility and liquidity of blue-chip NFTs on the Gate NFT platform. The second phase aims to capitalize on the popularity of its predecessor and continue offering highly valuable NFTs to an even broader audience.

Fractional what?
Fractional NFTs differ from traditional NFTs, with ownership divided into fragments that can be individually traded, lowering the barrier for popular NFTs that are often unattainable. All of the fragments together make up the entirety of the NFTs value. Think of it like a stock split, where the total market value remains the same, but each individual stock is valued proportionally to the original total value.

Beyond making NFTs more attainable, the division of ownership permits higher liquidity and market activity; fractional owners can trade NFTs without buying or selling them outright. As a result, traders can more easily capitalize on price swings, trends, and changing market sentiments. Finally, decisions on the usage and outright sale of the NFT can be governed and decided upon by each fractional owner.

Phase 2: MYAC #87
Gate NFT has launched Phase 2 of its fractional NFT project, and you’ll need to know some details before diving in. This new phase, featuring Mutant Ape Yacht Club (MAYC) #87, will be distributed to subscribers on the 23rd. MAYC #87 was divided into 1000 fragments offered at 20 USDT each, totalling 20,000 USDT. As the sub_script_ion threshold was met, you'll have to wait until the fragments hit the Gate NFT marketplace.

The way this works is Gate NFT first identifies a blue-chip NFT available on the market for a fixed price. Then the total price is evenly divided and offered to subscribers as fragments. Finally, when the total number of sub_script_ions meets the threshold, the NFT will be purchased by Gate NFT and distributed to the subscribers. Fragment owners are then free to trade the fragments individually.

On Gate NFT, fractional ownership comes with further benefits, allowing fragment owners to authorize avatar and commercial use and also proposing a sale of the complete NFT. However, a minimum of 60% of proportional votes is needed for final sales. If successful, the NFT will be sold on OpenSea, and the proceeds proportionally distributed to all fragment owners. In addition, Gate NFT supports any blue-chip NFT creators who seek to list their projects, accepting applications for traditional and fractional NFT listings.

Offering highly sought-after NFTs
Mutant Ape Yacht Club, or MAYC, was created by Yuga Labs as a spin-off of its highly successful Bored Apes Yacht Club (BAYC). Themed as zombie mutations of BAYC, they are considered the “ultimate membership” for Ape holders. The spin-off is arguably just as successful as the original, with one selling for a whopping 350 ETH.
Insane sale prices aside, both collections have become cultural icons and played a critical role in accelerating NFTs into the mainstream, littered across dozens of Twitter celebrity profiles.

The go-to platform for creators and traders alike
The Gate NFT platform is a full-featured NFT marketplace and launchpad on Gate.io. Traders gain access to various popular, new, and rising NFTs, and creators launch and auction their projects to a large audience. The platform offers everything from initial minting to sale and goes as far as to provide avenues for physical NFTs.

Furthermore, creators can become certified on the platform, gain unique badging, marketing and promotion pathways, and amplify their project’s traffic and exposure. Finally, minting is free so anybody can put their work on the market.

The sky’s the limit
Gate.io’s commitment to offering leading-edge Web3 investment opportunities doesn’t stop short at fractional NFTs. The platform has the most extensive asset selections of any leading exchange, with Metaverse, NFT, DeFi, and Layer-2 categories loaded to the brim. Listing fees are never charged for new projects, and Gate.io thoroughly vets and reviews all new project teams. Moreover, the exchange sees the long-term potential of crypto, Web3, and blockchain technology, aiming to provide leading-edge trading services for both new and veteran traders.

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Author: Gate.io
*Gate.io reserves all rights to the final decision. The article does not constitute any investment suggestions.
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After Massive Response, Gate NFT Launches Fractional NFTs Phase 2: MAYC #87

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