![]() ![]() The impulse to break up valuable NFTs into cost-effective fractions emerged amid the market mania of 2021. Noun #160, an NFT previously reserved only for the 10 Nounders of NounsDAO, to be offered in fractionalized shares on August 19.įractional ownership over this Noun also gives holders the ability to vote in the Nouns governance process, which determines how to use the more than $50 million in its treasury.īut fractionalizing an NFT is not a straightforward process, and there are many details - including legal ones - that Rally had to work out behind the scenes to make this possible. Buying a Noun could easily cost more than $100,000 through Rally, the price for one of the 13,000 shares on offer for Noun #160 starts at $15. “We're always looking for new ways to democratize Noun ownership.”īreaking the token into pieces dramatically lowers the barrier of entry to ownership of one of these rare tokens. "Fitz Tepper reached out at the end of March and proposed adding a Noun to the Rally platform and we thought it was an interesting idea,” Punk 4156 says. Nounders have occasionally sold these rare artifacts to friends, strategic partners and to cover the group ’s expenses, says Punk 4156, one of the founding members of NounsDAO. It’s this rarity that made Rally interested in a Nounder ’ s Noun over a regular one, says Fitz Tepper, the vice president of operations at Rally. Every 10 th Noun goes directly to the 10 Nounders - the project founders - and is not available for public auction. What makes a Nounders Noun so special? Unlike other projects which mint 10,000 items at once, the Nouns project says it will mint and auction off one NFT every day for forever.Īnyone with enough money can buy a Noun, which often sell for around 80 ETH (about $150,000). Rally, a firm that creates fractional shares of valuable physical and digital assets, announced August 19 that it will sell Noun #160, a Nounders Noun non-fungible token (NFT). So Rally decided to break one into pieces. In a market that values rarity above all else, Nounders Noun NFTs stand out.
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