Recur raised the highest Series A fund in the whole NFT space as it closed $5 million in its Series A funding round yesterday, 13th of September. This fund makes Recur to be at a $333 million valuation.
Recur, founded by Zach Bruch and Trevor George, is a tech company that provides infrastructure that enables fans to collect, buy, or re-sell NFT collectibles. It is creating a decentralized recurring royalty in the NFT marketplace.
“Our goal is to give fans the opportunity to own pieces of the stories and IPs they love, with real value retained across any future chain,” the founders said.
According to its founders, Recur will channel this fund toward scaling its branded experience product. The company hopes to recruit more fresh people into its team to scale effectively.
DIGITAL was the pioneering investor for this round. It led other investors including but not limited to Delphi Ventures, JST Capital, Jason Derulo, Defi Alliance, Divergence, Chris Hermida, and Hashed.
Asides from raising this fund, Recur announced its partnership with Veritone Incorporation. Veritone is a California-based company that provides ML and AI solutions. Their partnership will disrupt the sports industry with more awareness about NFT.
“Veritone is at the forefront of advancing technology, and the opportunities we see through NFTs for athletes are endless,” says the spokesman of Veritone.