GIBRALTAR, United Kingdom, Aug. 14, 2022 (GLOBE NEWSWIRE) — More than 57,000 community members have signed up to Unique Network’s campaign to fractionalize an $86,000 Cryptopunk, and share in its future value, despite bear market conditions.
Crypto promised the opposite of the exclusive communities that now surround iconic NFT brands, where joining the “club” will set you back tens of thousands of dollars.
With its campaign, Unique Network demonstrates how NFTs can be returned to their roots with the right tools and on the right network, giving everyone an opportunity to invest.
“In a way, we’re reclaiming punk culture from the hands of the powerful and wealthy and putting it back in the hands of the people. We see more and more registrations every day, which proves that thousands identify with this cause, says Alexander Mitrovich, CEO of Unique Network.
“This represents an exciting moment for interoperability. With our fractionation of Cryptopunk #3042, we are ushering in a new era of NFTs that are accessible, fungible and sharable across chains, and at a fraction of the cost. When the community claims its fractions – there will be more addresses owning Cryptopunk and its fractions within the Polkadot ecosystem than on Ethereum.
The best part is that Unique Network is giving away these Cryptopunk factions for free. Along with a fraction of a Substrapunk NFT and a Chest NFT, where traders can store their fractions and other NFTs to create a unique and tradable bundle.
Dividing valuable assets into smaller parts is already common practice for things like stocks and artwork. It gives each investor exposure to the asset’s value without having to bear the risk of owning it.
Even with the current market downturn, you’ll need around 70 Ethereum (around $80k) to join the Cryptopunks club, with the most expensive ‘punks’ listed for several million dollars.
This is the main reason Unique Network chose this resource. The next steps in this RFT journey will involve bringing Cryptopunk into a narrative that new owners of the factionalized punks can participate in and benefit from.
A spokesperson for Parity Technologies said: “It is important that the Parachain teams demonstrate the true potential of the technology. With this campaign, Unique Network demonstrates the power of Polkadot technology to enhance, transform and add advanced applications for NFTs in the future.” The Unique Network team demonstrates a commitment to increased adoption and decentralization. We are excited to see teams energized as they experiment with the infrastructure that will build the future of Web3″.
About Unique Network
Unique Network is an infrastructure for the next generation of NFTs. The first NFT chain for Kusama and Polkadot, Unique Network offers developers independence from high network transaction fees, dense upgrades and filtered NFTs. The Unique Network team has partnered with a number of NFT projects to deepen the integrations necessary to expand NFT use cases and usability.
About Parity Technologies
Parity Technologies is a core blockchain infrastructure company creating an open source creative commons that will enable people to create better institutions through technology.
Media, Chris Sealey: [email protected]
