Getting shared ownership over a digital piece of art or virtual real estate is now even cheaper. Because Niftex now offers its services on the Matic Network, users don’t need to worry about exorbitant gas fees on the main Ethereum blockchain. Niftex announced the new feature on Tuesday.
Users will now find two types of assets on the Niftex dashboard. The mainnet assets are the ones that are fractionalized on the Ethereum blockchain. They will also see a special blue badge for assets that are fractionalized on the Matic Network. Users who want to split an asset into fractions, will have a choice between the two networks. Shared ownership on Matic is cheaper, but comes with some extra effort.
Working with the Matic Network will require some work from the user’s perspective. For example, they will need to add a new network to their Metamask browser extension. In addition users need to wrap their ETH onto the Matic network as well. Details about the procedure can be found on the official blog. To take care of gas fees on the Matic Network, Niftex have airdropped Matic tokens to all their users.
Niftex peaked in July
Earlier this year Niftex got its big move in the blockchain space. For the first time users were able to get a sense of ownership over very rare digital assets, including some creatures from Axie Infinity. One Axie named Almace sold out its 10 thousand ALMX tokens within a few hours, and after that the value tripled to 24 thousand dollars.
Niftex is an exchange where users can buy a share of highly valuable digital assets. They decide a price and the number of shards of ownership, after which investors can buy shards. On Nitfex investors can find tokens for partial ownership over virtual land in Decentraland, Cryptopunks and all kinds of digital art. However, not every asset has seen a value increase on Niftex.
NFT investing becoming a real thing
Over the past two years non-fungible tokens have taken quite a presence within the blockchain space. A non-fungible token represents ownership over a digital or sometimes physical asset, and therefore has a certain value. The value of certain non-fungible tokens increased a lot, sometimes even adding one or more zeros behind the initial value.
In 2018 a piece of digital art called “AI Generated Nude Portrait #1” was sold for $75.74. However, at the beginning of this year that same blockchain-verified image sold for 12.351 dollars. That’s 174 times the original investment!
With virtual land in Cryptovoxels and Decentraland, the same thing happend. While pieces of land originally sold for less than one hundred dollars, some of these lands are now worth thousands of dollars. These are considerable amounts of money, inaccessible for most people on this planet. Allowing investors to buy fractions at least opens up the opportunity for the lower segment investors to get a piece of the pie.