The non-Fungible token company, Recur, was able to reach a valuation of $333 million following a funding round which was led by an investment platform that had the back of billionaire Steve Cohen’s family office.
The Series A round was led by metaverse investment platform Digital, and it ended up raising $50 million, according to many reports. Founded by Zach Bruch and Trevor George, Recur will be using the funds to support licensing rights and partnerships in the hope to build its team. Cohen, who is the famous owner of Point72 Asset Management, will be Digital’s initial designated director on Recur’s board.
In an emailed comment, Bruch and George wrote via best usa casinos online: “Our engineers built the infrastructure to power millions of micro-transactions between fiat currencies and crypto currencies,” and they also claimed that they plan to offer “a seamless experience from purchase, to trade, to withdrawal.”
NFTs have been a booming business recently as they rose in popularity this year, with several million dollars of sales were made for the high profiles while some in tens or hundreds of thousands. The tokens give holders of digital art and collectibles to track ownership. Back in August, daily sales made broke the record of the most sales.
In the last few months, we’ve seen Cohen paying close attention to cryptocurrencies with his Point72 Ventures backing a Series A funding round for analytics firm Messari Inc. which ended up closing at $21 million. Back in July, Point72 Asset Management was revealed to be looking for a head of cryptocurrencies. Finally, in May, Point72 revealed to investors that it will be looking to explore the opportunities surrounding blockchain technology.
In March, Recur announced a $5 million fundraising which lure in investments from Ethereum co-founder Joe Lubin, Gemini’s Cameron and Tyler Winklevoss, as well as JST Capital and Defi Alliance.
Recur will also be partnering up with artificial intelligence company Veritone Inc. as well as collegiate trademark licensing company CLC. Veritone, which is the exclusive content licensing partner for the Pac-12 Networks, will be licensing Recur-approved Pac-12 moments in all sports available for NFT creation, and this excited many best online casinos au.
Recur is also bringing NFTU, a marketplace that will see sports fans claim ownership to highlights from college sports, and it will be starting first with the Pac-12.
In other NFTs news, Google will be partnering up with Canadian blockchain studio Dapper Labs in a bid to support the development of new Web 3 products and services which will be including the non-fungible token (NFT) marketplace.
