The Doge NFT
The Doge NFT
Inside The Vault
The most iconic meme in internet history, the original Doge, is now fractionalized and available for anyone to own. This is the original Doge NFT minted by Atsuko Sato, the owner of everybody's favourite canine. Fractionalizing this NFT means that now anyone can own a piece of one of the most recognized and loved images of our generation.
See Top 10 Owners
Proof of authenticity
Auction / Bidding
Top 10 Vault Owners
A non-fungible token (NFT) is type of cryptographic token which represents ownership of a unique asset on the blockchain. No two NFT tokens have identical attributes, which means that the NFT that you hold exclusively belongs to you. It is yours, and only yours. Smart contracts prevent duplication and the public nature of blockchains ensure the scarcity of the asset.
There are numerous benefits of fractionalizing NFTs. For the original owner, fractionalizing provides increased liquidity and quicker, more efficient price discovery, while reducing volatility. Secondly, it allows buyers either priced out of certain pieces, or those who want to diversify their portfolio over a more broad collection, the ability to do so.
Though trading volume is far off its momentary peak of $310M in May, volume has rebounded recently, exceeding $110M in transactions during the last month, a figure that still is higher now than at any point from 2020. About ⅔ of that figure is through primary sales, while the rest is accounted for from secondary sales. A more bullish indicator is the 30 day moving average for the amount of active wallets, which has remained steady from March to June, even with decreased trading volume. Over 27,000 unique wallets bought or sold an NFT during the month.
Cryptocurrencies are inherently risky, and emerging asset classes like NFTs are no exception towards the rule. In fact, as a whole, this asset class may carry even higher volatility than other crypto assets. While the NFT space has seen strong momentum, that may not always be the case; research accordingly and proceed with caution.
Choose a single NFT if you want your collectible to be one of a kind or select multiple if you want to fractionalize a basket of multiple NTFs.
Frequently asked questions
Answers to the top questions asked by the fractional community.
Who is the custodian of a vault?
There are no custodians and vaults are fully decentralized, audited smart contracts.
What are the curator fees?
Curator fees are similar to an asset under management fee. Annually, a curator will earn a percentage of the total ownership token supply. These fees are set by the vault’s curator, but restricted by governance to prevent inordinately high fees.
What is the reserve price?
The price (in ETH) required to initiate an auction for a vault and its NFT(s).
What is a buyout?
A buyout can happen when there is an external party who deposited ETH that is greater than or equal to the reserve price. This will kick off an auction. At auction completion, the NFT will be withdrawn and fractional owners will be able to trade in their tokens for ETH.
How is the reserve price set?
The reserve price is set by the weighted average of all ownership token holder votes. If less than 50% of token holders have voted, a reserve price will not be set. Token holders cannot set a reserve price greater or less than 5x the current weighted average.
What is an auction?
An auction is a public sale of a vault and all its contents, which is triggered when someone deposits and offers an amount of ETH greater than or equal to the vault’s reserve price. The individual offering the highest price at the time the auction completes wins the buyout.
What happens to fractional owners after a successful auction and buyout?
Once completed, fractional owners are able to trade all their ownership tokens in for the ETH that was deposited by the auction winner on a pro rata basis. The ownership tokens that are traded in for the ETH are then burned by governance.
How do I learn the status of a vault?
The status of your vault is indicated by the tags (e.g., ‘Live Auction’) that can be found underneath the vault’s name.
What do the different vault tags mean?
A ‘normal’ tag indicates a vault exists and its ownership tokens have been minted. A ‘live auction’ tag indicates a vault is currently being bid on for its contents. A ‘closed’ tag indicates that a vault has been bought out.
What is the visual representation of the tokens/fractions?
Fractional ownership is represented through ERC20 tokens, there is no accompanying visual representation of the specific ownership tokens.
Does fractional support ERC-1155 tokens?
Currently only ERC-721 tokens are supported for fractionalization. Support for ERC-1155 tokens is planned for a later date.
Fractional plans to progressively decentralize the protocol to ensure long-term resilience & upgradability.