SmarterWorx Inspires Decentraland and The Sandbox Communities with Fractionalized NFTs
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Across the NFT sector, it is standard knowledge that tokens are indivisible. For collectors, this means that when purchasing an NFT or a tokenized asset, you must source all funds as put on its price tag. Considering the high cost of buying some NFTs, crypto lovers and art enthusiasts have largely been cast away for their limited resources. Not for long, though.
Now, crypto and art lovers can invest in NFTs within their budget through SmarterWorx. This DeFi protocol has pioneered fractionalized NFTs (F-NFTs), which allow for collective ownership of NFTs and yield revenue to the investors. And household NFT players, like Decentraland and the Sandbox, are stunned.
Understanding SmarterWorx
SmarterWorx is the protocol that crypto investors didn’t know they needed. The protocol leverages NFT technology to add value to physical artwork and allows investors to own a share of the art pieces through F-NFTs. SmarterWorx acquires masterpieces from talented artists in the market and then generates their NFTs. These asset-backed NFTs create a digital footprint of the physical artwork to keep off counterfeits.
F-NFTs simplify art and NFT investment since you don’t need deep pockets to get started. In turn, SmarterWorx generates revenue from the art pieces and connected NFTs when it resells them for a marked-up price. The profits accrued in the transaction are sent to F-NFT holders as income for investing in the art pieces.
SmarterWorx has designed a framework to make the project self-sustaining. First, part of the revenue from art sales is plowed back to purchase new physical artwork, ensuring SmarterWorx’s asset portfolio is ever-growing. Then, the platform also allocates funds to its treasury through its native token, $ARTX, to purchase new art pieces.
Crucially, SmarterWorx ensures physical art pieces back its $ARTX tokens. So, holders can rest easy without worrying about inflation or market volatility. With $ARTX and F-NFTs, SmarterWorx has simplified income earning from fine art.
How Does Decentraland Work?
Decentraland is a decentralized virtual ecosystem built on Ethereum. The platform enables users to purchase virtual plots of land and develop and monetize them in a gamified form. The platform, which is 100% owned by its users, trades the plots of land as NFTs.
Decentraland supports only indivisible NFTs. Many users interested in owning virtual land are cut off since they need access to more capital. Generally, similar approaches to NFTs have hurt the technology’s progress toward mainstream adoption. Many projects are expensive and undesirable for retail investors. Bear market effects and rising dissatisfaction with expensive NFTs have caused Decentraland’s native token, $MANA, to drop by nearly 90% in 2022.
What is The Sandbox?
Like Decentraland, the Sandbox is a gamified blockchain protocol enabling users to create, build, and monetize virtual assets. The fully-decentralized protocol leverages NFTs to power an incentivized gaming economy. Its play-to-earn (P2E) strategy allows users to participate in games and receive incentives like crypto and NFTs.
The Sandbox is a niche protocol targeted to gamers. Even then, the protocol’s users require massive resources to enjoy this decentralized gaming experience. The Sandbox’s native $SAND token has plunged 90% in 2022.
Final Takeaway
SmarterWorx is removing the luxury tag from the NFT sector. With F-NFTs, anyone with any budget can participate in the sector and earn passive income. A scaled NFT industry has the potential to drive blockchain into mainstream applications. For SmarterWorx, that mainstream sector is the art sector.
SmarterWorx is building the foundation for a thriving art sector that transcends physical and digital spaces to incentivize artists, investors, and art lovers. Communities of popular NFT platforms, like Decentraland and the Sandbox, have a lot to borrow from SmarterWorx to reignite their growth.
Learn More Here:
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