Frac It
Frac It allows users to take an NFT they already own, and securely fractionalize it into a fixed number of fungible tokens they can then distribute at will.
The original NFT is stored in a smart contract, which acts as a vault, and can be later retrieved by exchanging all of the issued fungible tokens.
Motivation
As NFTs are used to represent more and more assets, whether strictly digital, physical, or some combination of the two, fractionalization allows for very easy and intuitive group ownership. This has wide applications, ranging from coordinating control over different kinds of assets, reducing and distributing risk to exposure in financial settings, lowering barriers of entry to highly valuable assets, and a whole host of future applications.
Details
Website: fracit.app
Florence Contract Address: KT1HvKKzay8Ba8JsG1YRDx1hBX11gU6CicKd