Fractional NFT for Property Ownership: Minting the Token
Fractional NFT is a feasible technique to represent the co-ownership of properties. This article demonstrates how the combined use of ERC721 and ERC20 tokens may do so.
What’s a Fractional NFT?
A Non-Fungible Token (NFT) is a proof of ownership. To prove that you own an ape from the Bored Ape Yacht Club, you would simply whip out your MetaMask wallet and show that it’s right there in your wallet.
But that is if you are the sole owner of the asset.
The prices of NFT have shot through the roof in recent times, so popular NFTs may no longer be affordable to be owned by one person. Thus it may become necessary for an asset to be collectively owned by a group of people.
An NFT that is sliced into several pieces, distributed to a group of people registered as partial owners of the NFT is known as a Factional NFT.
In this series of 3 articles, we will demonstrate how this might work.
In the first part, we will focus on minting the Fractional NFT.
The source codes for this project can be found in my Github Repository.
A Scenario of Property Ownership
Properties are a good candidate to be tokenized as NFTs. Rather than keeping…
