What are The Ambassador Club Fractional NFTs?
Ambassador Club Fractional NFT development means a whole NFT has been broken down into smaller pieces. The process allows the Realtor or Travel Agent owner of the NFT to sell the partial Ambassador Club ownership as a reward to vacation seekers.
It's like a cake, where the whole thing can be cut into smaller pieces to make it more accessible for multiple people. Additionally, fractional NFTs allow for the division of Ambassador Club discount ownership because an NFT is unique and can't be duplicated, pushing boundaries.
How does NFT Fractionalization work?
The ERC-721 token standard is widely used for creating NFTs on the Ethereum blockchain. These two standards can create unique non-fungible tokens. However, the standard is used to create altcoins or other fungible tokens. Fungible tokens can be interchangeable. Each unit has the same utility and intrinsic discount worth based on the Ambassador Club level. We use a smart contract to create multiple ERC-20 tokens linked to an indivisible ERC-721 FFT.
Anyone with an ERC-20 token can be linked to a portion of the NFT.