jpeg enables anyone to create funds to purchase NFTs and fractionalize ownership between fund participants.

Create a new fund or invest in an existing one. Investors can participate by buying and selling tokens on a bonding curve. The target fundraise amount is the NFT's OpenSea price at the time of fund creation + 10% to seed the LP.

Once the funding target is reached, 90% of the raised funds are used to purchase the target NFT. The remaining 10% is used to seed the LP on Raydium. At this point, the fund's token becomes freely tradable with a fixed total supply of 1 billion tokens.

Each token represents a proportional share of the NFT - if you own 1% of the tokens, you own 1% of the NFT.

The NFT is held in the fund until market conditions are favorable for sale. During this time, token holders can trade their positions like any other token.

When the NFT sells, proceeds are distributed to token holders based on their percentage ownership.