• Innovative Fractional Ownership Framework: The Fractional Digital Asset Ownership (FDAO) model uses fractional NFTs (FNFTs) to facilitate the co-ownership of digital assets, focusing on software code. • Addressing Ownership Management Challenges: Building on FNFT and blockchain technology, this study proposes an intelligent solution for fractional digital asset ownership that ensures the accurate tracking of ownership rights through the integration of FNFTs with blockchain technology. • Practical Prototype Development: This study demonstrates the FDAO framework’s capability to securely and transparently manage handling digital asset transactions using FNFTs and smart contracts implemented through Remix and OpenZeppelin. • Empirical Evaluation of FNFT Application: This research examines the effectiveness of FNFT frameworks in supporting fractional ownership, highlighting their potential for real-world digital asset applications. • Market Accessibility and Inclusivity: By enabling fractional ownership, the FDAO model increases accessibility to digital assets and supports ownership democratisation. • Identification of Limitations and Future Directions: The study discusses the challenges related to regulatory compliance, scalability, and costs associated with FNFTs and other blockchain platforms and outlines compliance strategies that may support a broad range of applications. A new generation of digital assets is being managed using blockchain technology and non-fungible tokens (NFTs), which introduce novel opportunities for verifying ownership rights and establishing provenance. This paper presents an innovative framework called Fractional Digital Asset Ownership (FDAO), which aims to create NFTs for digital artifacts, such as software code, and extend their functionality through fractionalized NFTs (FNFT). Leveraging the Model-View-Controller (MVC) design pattern, FDAO enables effective co-ownership tracking across the lifecycle of digital assets, providing a structured and efficient mechanism for defining and managing co-ownership. A system prototype has been developed and tested in an integrated development environment (IDE) using decentralised applications (DApps) and smart contracts. Unlike existing NFT-based models, FDAO incorporates an intelligent, automated fractionalization and verification mechanism that combines the ERC-1155 and ERC-20 standards to enhance co-ownership management and scalability. This integration addresses the critical challenges related to transparency, security, and lifecycle management in digital asset co-ownership. The prototype, implemented using Remix and OpenZeppelin, demonstrates how FDAO enables secure, transparent, and efficient transfer and management of digital assets. By integrating FNFT functionality with smart contracts, the framework provides a robust, scalable, and intelligent method for managing digital assets. It also maintains transparency and trust throughout the asset lifecycle.
Alsulaimani et al. (Sun,) studied this question.