Fragmint: A New and Unique Way of Minting NFTs
There is no denying the profit-making potential of the non-fungible token (NFT) market.
The market is booming, and actors, musicians, and entrepreneurs are on the move to capitalize on the opportunities presented by NFTs. It’s even possible that Meta, formerly known as Facebook, will add NFTs to Instagram and Facebook very soon.
Although there are many business opportunities in the NFT sector, it is becoming increasingly difficult for retail investors to invest in one. NFTs are getting harder and harder to come by as the demand rises. In addition, floor prices are getting more difficult to reach every second.
Enter, Fragmint. The Fragmint team developed a platform that enables users to invest in fragmented NFTs, or simply “Fragmints” — The world’s first NFТ platform with fragmentable art and formable DAOs.
The concept of fractional NFTs is nothing new. These days, it’s common practice to split NFTs into millions of pieces. However, Fragmint introduces a simple and newer concept of fragmenting NFTs — giving birth to collective ownership of an artwork in a new and authentic way.
Based on the idea of fragmentation, Fragmint is establishing a new method for creating, sharing, trading, selling, and collecting NFTs. Instead of melting art at random into an infinite number of fungible tokens, this method digitally splits and mints a few pieces of art into separate NFTs known as fragmints. This unique method could be more valuable for everyone involved for a few different reasons.
Below are its use cases and their respective benefits:
Use case #1: Meaningful parts
Fragmint introduces means for controlled splitting into multiple meaningful parts. It enables the artists to maintain the artwork’s artistic value and aesthetic appeal.
There are various components of art that each stand-alone and make sense. There are numerous ways to accomplish this, and the only restriction is the artist’s creativity.
Use case #2: Price accessible shares
By producing more NFTs at affordable prices, fragmentation lowers the barrier to entry into an otherwise very expensive market. A much more reasonable price point can be achieved by making an artwork out of several individual ownable fragmints.
Fragmint aims to maintain a controlled split, much like a piece of virtual real estate with multiple uses and values.
Use case #3: New form of modular art
Fragmentation opens up a wide range of opportunities for reimagining art forms, inspiring creators to advance their NFTs!
Consider puzzle art as a simple way to understand this use case — the pieces fit together like a unique puzzle. And each piece can have its own owner, history, and price.
Dive into the future of minting!
Using Fragmint’s model, each portion of the fragmented NFT has a different value. Investors have the option to purchase and sell every or particular part as needed. More importantly, the gamified experiences give investing a “fun” element, making Fragmint the future of NFT Minting!
IDO on Enjinstarter: 28 June 2022