Multielectrode arrays are used broadly for neural recording. In most cases, recording sites are passive electrodes wired to external read-out circuitry, and the number of wires is equal to the number of recording sites. We present an approach to break the conventional N-wire, N-electrode array architecture using graphene active electrodes, which allow signal up-conversion at the recording site and sharing of each interface wire among multiple active electrodes using frequency-division multiplexing (FDM).The presented work includes the design, implementation, and measurement of a frequency modulation and readout architecture using GFET electrodes, a custom CMOS integrated circuit analog front-end, and digital demodulation.