More than half a million dollars has been placed in shared ownership over digital assets. According to data from DappRadar there’s 515 thousand dollars in 21 different fractured digital assets, mainly game assets and digital art. All these shared non-fungible tokens are being traded on Niftex.
The most eye-catching product on Niftex is Almace, a very rare creature from the tactical battle game Axie Infinity. Currently Almace has a market cap of 163 thousand dollars, or $16.37 per shard. As a result the shard owners have a 1100% return on their initial investment.
Hauteclere, another Axie Infinity character, has a value of 133 thousand dollars, followed by a zombie Cryptopunk with 43 thousand dollars. On fourth place we find another Axie Infinity creature and a Crypto Card completes the top five.
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. However, the platform stopped operating soon after it launched earlier this year. The gas prices on the Ethereum blockchain made it impossible to offer a proper service. As a result Niftex now also offers its services on the second-layer solution Matic Network.
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. This trend sparked the interest of investors.
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.