Art market fractionalization

From an email sent to me by The Art Newspaper:

Fractionalisation and tokenisation of art are all the rage. While the notion of unlocking the value in an artwork by selling shares in it has been around for over a decade, a slew of new initiatives is taking it to an explosive new level.

Among the splashiest new launches is the Artex Stock exchange out of Liechtenstein, co-founded by financiers Prince Wenceslas von Liechtenstein and Yassir Benjelloun-Touimi, the latter seemingly the driving force. The project buys art (its first acquisition is Bacon’s Three Studies for a Portrait of George Dyer, 1963) bought for $52m in 2017 at Christie’s and now valued at $55m. Investors can buy shares for as little as $100 in the Bacon, which can be traded (or technically, the company that owns it) on the Liechtenstein MTF (an alternative trading platform). Other paintings will follow; trading starts on 21 July.

These ideas seem weird to me.  The more wonderful it is to own art, the lower should be its pecuniary rate of return, as recompense.  So why buy into fractional shares of an art work?  You don’t get to hang it on your work, and at the same time you get the subpar rate of return resulting from the fact that some people do get to hang it on their walls.