  In this note we establish some connections between the theory of self-similar
fractals in the sense of John E. Hutchinson (cf. [3]) and the theory of
boundary quotients of $C^\ast$-algebras associated to monoids. Although we must
leave several important questions open, we show that the existence of
self-similar M-fractals for a given monoid M, gives rise to examples of
$C^\ast$- algebras generalizing the boundary quotients discussed by X. Li in
[4, {\S}7, p. 71]. The starting point for our investigations is the observation
that the universal boundary of a finitely 1-generated monoid carries naturally
two topologies. The fine topology plays a prominent role in the construction of
these boundary quotients. On the other hand, the cone topology can be used to
define canonical measures on the attractor of an M-fractal provided M is
finitely 1-generated.
