Are Re-Fungible Tokens a thing? Why are we not seeing more projects?

It seems we are in the heyday of NFT’s – with some exciting implementations in the works. (I.e. utility products, metaverse and so on.)

So if you can transfer ownership of an object from one person to the next thanks to blockchain; why can’t one, in principle, have a multitude of ownerships of an object (like with crypto)?