Tessera Launches Platform for Collective Ownership, Marketplace & Protocol
Tessera has officially launched its collective ownership platform in addition to a marketplace and protocol, according to an announcement from the platform.
To celebrate the launch, Tessera is showing off the collective ownership features by hosting a Last Price Dutch Auction of CryptoPunk #4847.
🎉🎉🎉NOW🎉🎉🎉https://t.co/n6oCC5Tims is officially live! Join us in owning NFTs, together 💚💜— TESSERA (@tessera) December 6, 2022
To celebrate, you’re invited to the auction for collective ownership of CryptoPunk #4847. Meet us at 12pm ET TODAY for the start of the first auction. Details 👇🧵 (1/7) pic.twitter.com/5EFDiXSkt0
How Does Collective Ownership Work?
Tessera's collective ownership feature allows users to purchase "Raes" (short for the plural form of Tesserae) or fractions of NFTs. Anytime a new NFT is added to a vault the Tessera smart contract produces a predetermined amount of Raes available for collective ownership.
Platform users can then purchase a Rae, and by doing so, earn collective ownership and governance of the vaulted NFT.
Can I Buy and Sell Fractional NFTs?
Yes. Those with collective ownership can buy and sell Raes directly on Tessera with the launch of the Tessera marketplace. The Tessera marketplace "will allow users to buy and sell all types of NFTs" with zero fees, according to the release blog post.
Tessera's broader launch also includes the release of the Tessera Protocol, an open-source public protocol designed to amplify the power of collective ownership.
"In addition to allowing any smart contract developers to build on top of it, the Protocol enables even more utility for vaulted NFTs including the minting and distribution of Raes as well as the reconstitution of vaulted NFTs," wrote co-founder Andy Chorlian in the release announcement.
Tessera has previously showcased its protocol's ability with the launch of Nounlets.
At the time of writing, 978 Raes (fractions) of CryptoPunk #4847 are still available for purchase at a constantly decreasing auction price.