Fractional announces Rebrand, raises $20 million

These days, many projects and companies have sprung up to help ordinary people gain access to NFTs. One such company, Fractional, was established to allow NFT holders to sell parts of their NFTs to others while retaining some ownership of the asset.

Now, Fractional’s little name has been officially changed to facilitation. Along with this name change, the company has raised $20 million in a new funding round led by Paradigm.

Presentation of Tessera

While the company’s name has now changed, its mission to create greater access to NFT remains the same. According to CEO Andy Corlean, the money raised will go towards hiring new employees, particularly in positions such as marketing and engineering.

The company is also working on a new feature that will convert partial NFTs that are being sold to new NFTs themselves. Currently , fractional parts They can only be converted to ERC-20 tokens. By doing this, Corlean says, the process can be made simpler for beginners.

It was really a really big hurdle for many of our users, who are used to trading NFTs on OpenSea or any of these other markets, [….] Trying to explain how all this works was just a step too far for a lot of peopleCorlean says.

Given how expensive it is to purchase some NFTs, this type of service is definitely necessary to make the market more accessible to everyone.

do you want more? Connect with NFT Plazas

Join the weekly newsletter
Join the discord
Follow us on Twitter
Like us on Facebook
Follow us on instagram

*All investment/financial opinions expressed by NFT Plazas are derived from the personal research and experience of our site administrators and are intended to be educational materials only. Individuals have to do a complete research on any product before making any kind of investment.

Source link

Related Articles

L&G: Economic shortages provide opportunities for investment

Britain is not doing well. This is it message From...



Please enter your comment!
Please enter your name here

Same Category