- Taylor Locke of CNBC reports that The Doge NFT, which sold for $4 million in June 2021, is now selling in fractional parts on Fractional.art. Doge refers to the dog that is the face of the cryptocurrency dogecoin.
- Fractionalized purchasing means that consumers can pay to buy “fractions,” even just a tiny part, of the asset, let’s say, 50 cents. Fractional shares can apply to stocks, cryptocurrencies, NFTs, or other assets or investments. The basic idea is, instead of whole numbers like 1 share, any fraction of a share is offered for purchase. Fractionalization enables the ordinary consumer to purchase an expensive asset–or at least a tiny part of it.
- Emily Yang, an NFT artist who goes by the handle “pplpleaser,” purchased The Doge NFT for $4 million in June. In an interview with Bloomberg, she explains why she is selling it in fractional pieces.
- Yang’s own story is quite remarkable. Apple rescinded a job offer to her due to the pandemic. But then she eventually became incredibly successful on her own, through NFTs. For more about Yang’s own story in the NFT world, check out this Forbes article.