How to buy a CryptoPunk NFT, when you can’t afford a CryptoPunk NFT.
The fear of missing out (TFOMO, if you will) is often a driving force in Web3.
Heck, some NFT projects are built solely around it.
One cool thing about the blockchain is that it can be used as a system of ledger, to keep track of who owns what. You could buy just a fraction of an item, and your ownership percentage would be verified for all to see.
Which is exactly what the company formerly known as Fractional has facilitated.
What’s with the twisted Prince reference?
Yesterday, Fractional changed their name to ‘Tessera’ - and announced that they’d just raised 20M dollars.
Fractional ownership allows people to buy just a portion of an item, rather than the whole thing.
For example: CryptoPunk #7171 is valued at roughly $480k right now, but if you don’t have a lazy $480k lying around, you can buy 1/10,000th of it with Tessera.
In other words, it makes the ownership of expensive assets more accessible.
Side note: we just read over this and realized it's starting to read like an ad.
To balance things out, we'll say this: Tessera is a silly name, Fractional was way better.
Ok, moving on and wrapping up.
Despite the silly name, we’re excited to see the next step in Tessera’s mission. Giving users the opportunity to collectively own and govern things they value, without the need for central gatekeepers?
We can get behind that.