elacityPopular Layer-2 nft marketplace Elastos has introduced support for the ERC-404 standard, allowing users to buy and sell fractional NFTs through its platform.
An alternative to the popular ERC-20 and ERC-721 standards, ERC-404 enables easier creation of nft liquidity pools, allowing users to own fractions of an nft, creating a more accessible way to enjoy the benefits. of owning a top-of-the-line nft. .
Through Elacity, users will have the opportunity to own fractional NFTs representing a variety of digital content, including music, visual arts, literature, and more.
Source: ElacityWhy is this significant?
Elacity seeks to evolve from an nft marketplace to a decentralized digital rights marketplace (DDRM), a home for trading digital assets of all types, 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 huge 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 measure will be; “enhance commerce for nft marketplaces that can offer utility through access or royalties to services,” a clear statement of intent about its future direction.
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