New technology company, RECUR raises $5m as it claims that NFTs can act as the ‘gateway’ for the everyday consumer to enter the crypto space.
New technology company, RECUR, believes that NFTs (digital products and collectables) will act as the ‘gateway’ for the everyday consumer to enter the crypto space, making its opportunity for growth exponential for partnered brands.
The US company – which was co-founded by crypto industry veteran, Zach Bruch, and Trevco’s Trevor George – has raised $5 million, the largest seed-raise to date in NFT history.
The funding will be used to build branded NFT fan experiences for global brands, the first of which is set to launch this summer.
The company is looking to change the NFT market by creating and setting the standard for a decentralised recurring royalty. RECUR will ultimately be chain agnostic, creating the widest distribution and reach for NFTs minted on its platform.
“NFTs will serve as the ultimate gateway for billions to enter the greater crypto ecosystem,” commented Zach, who has held leadership positions at major companies in the crypto industry including Kraken, and is the founder of Manna, a proprietary trading and investment company. “The future digital world and economy will be decentralised which we are not only preparing for, but championing.
“Our NFTs will have the widest range of distribution and incorporate a recurring royalty element in the underlying code itself.”
RECUR’s core team also includes a number of individuals from major studios including Stephen Teglas (former svp licensing at Disney) and Chris Heatherly (former evp of games for NBC Universal and svp games for Disney).
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