The new technology company, Recur is vigorously getting engaged in designing and developing on-chain branded experiences. The facilities provided by them allows the fans to buy, collect, and re-sell digital products and collectibles (NFTs). On March 25, the firm announced on raising $5M, which turned out to be the largest seed-raise in NFT history. Recur plans to “build branded NFT Fan Experiences for global brands and the first is set to launch in Summer 2021”.
Changing the NFT market, Recur is underway to set the standard for a decentralized recurring royalty. Even though the default availability of assets in on Ethereum, it will eventually distribute its assets in a wider network maximizing the reach of the NFTs, as it will be chain agnostic. RECUR believes that “NFTs will act as a gateway for the everyday consumer to enter the crypto space, making its opportunity for growth exponential for its partnered brands.”
Thrilled to announce our $5M Seed fundraising led by the @DeFiAlliance and other top-tier investors supporting us as we bring NFTs to the largest brands in the world! 🚀https://t.co/lHi6JjZNrY — Recur (@RecurForever) March 25, 2021
In Recur’s medium blog, Recur listed its investors, where it mentioned that:
“The raise was led by the Defi Alliance and included investors and funds such as: Gary Vaynerchuk, Courtside VC, Founder of Ethereum, Joseph Lubin (Fund in stealth), Gemini (Tyler & Cameron Winklevoss), Scott Belsky (Founder of Behance), JST Capital, Delphi Digital, Volt Capital, Nascent, CMT Digital, Hashed and more.”
Co-CEO of Recur, Trevor George said:
At Trevco, we have always taken pride in going where the fans go. We helped bring the licensing community into Amazon with physical products, and, with our incredible team, look forward to bringing our beloved brand partners into the crypto ecosystem through digital products (NFTs), in a responsible, long term way.
On the significance of NFTs and RECUR’s industry standardization, Recur’s Co-CEO, Zach Bruch observed that:
NFTs will serve as the ultimate gateway for billions to enter the greater crypto ecosystem. The future digital world and economy will be decentralized 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.