Elacity, the popular NFT marketplace for Layer-2 Elastos, has introduced support for the ERC-404 standard, allowing users to buy & sell fractional NFTs via its platform.
An alternative to the popular ERC-20 and ERC-721 standards, ERC-404 permits easier creation of NFT liquidity pools, enabling users to own fractions of an NFT – creating a more accessible way to enjoy the benefits of owning a blue-chip NFT.
Through Elacity, users will have the opportunity to own fractional NFTs representing a variety of digital content, including music, visual art, literature and more.
Source: Elacity
Why is this significant?
Elacity is looking to evolve from an NFT Marketplace into a Decentralised Digital Rights Marketplace (DDRM) – a home for trading digital assets of all kinds, from traditional NFTs and fractional NFTs to royalty shares and more.
Sasha Mitchell, CEO of Elacity, noted that the adoption of ERC-404 is; “a massive step forward in the digital rights and NFT space as a whole”, creating a “unique opportunity” to improve engagement between creators and their fans.
He also expressed that the move will; “enhance trading for NFT markets which can offer utility through access or royalties to services”, a clear statement of intent as to their future direction.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
The post Elacity Marketplace Adopts ERC-404 For Fractional NFT Trading appeared first on NFT Plazas.
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