A masterpiece collection is currently being fractionalized and also placed into an open non-fungible token marketplace. The name given to this project is HYPE. It comes from the house of EcoFi. This is a landmark moment in the world of both art & culture and cryptocurrency. HYPE is bringing out legally binding NFTs that allow fractional ownership from a splendid art collection featuring some of the world’s greatest artists. From this exquisite collection, certain pieces were put up for display at a private and exclusive party hosted at P. Diddy’s Beverly Hills mansion last weekend.
When the NFT mania exploded earlier this year, the crypto world could only marvel at the fact that NFT artwork prices reached $69 million. EcoFi’s announcement establishes it as a pioneer in bringing artistic masterpieces into the hands of ordinary people. Anyone may now own a piece of Pollock, Renoir, Degas, Picasso, and many other artists. It suggests that cryptocurrencies are opening up other businesses. While several art NFT projects have attempted to put art ownership under the umbrella of NFTs, project obstacles have been considerable. Elite art owners were unwilling to fractionalize their work, while those who were willing to fractionalize were not holders of pieces.
EcoFi solves this problem by getting their hands on a large private collection as well as legally enforceable NFTs. 100 NFTs constitute each masterpiece. If a person collects all 100 pieces, the piece will be handed to them immediately. Any fractional owner is eligible to visit their piece in person or view it in a digital gallery.