As a result of NFTs, it is now easier for a more established company to enter the web3 market. A range of brands, from sports franchises to apparel manufacturers, including some of the biggest names in business, have used NFTs to enter the web3 market.
It may be true that these behemoths own the intellectual property required for a successful NFT launch, but they are unlikely to possess the crypto know-how.
The Miami-based firm RECUR comes to the rescue in this situation. RECUR is a tech company that designs and develops custom branded experiences for fans to purchase, collect, and resell digital products and non-financial tokens (NFTs). The team consists of designers, programmers, and innovators who have the web3 expertise necessary for a large-scale project.
As a company founded in February 2021, the company raised $50 million in its Series A round that same year. The company has worked with companies like Paramount, Nickelodeon, Hello Kitty, and Star Trek to create NFT experiences.
The company now plans to provide wider access to its platform – the technology that drives its success – so smaller brands and creators can benefit from their special sauce for NFT success.
What Does RECUR Company Do?
If you’re familiar with NFTs, the company has gathered a lot of attention since securing funding from notables like Jason Derulo, Gary Vaynerchuk, Joe Lubin, as well as the owner of the New York Mets, and Steve Cohen ( just to name a few).
As the start-up has already announced partnerships with some of the world’s largest media brands and IPs, including Hello Kitty, Viacom, CBS, Care Bears, as well as several major universities, the future looks bright for the company.
As of December 9th, 2021, the Recur Pass known as “Your Portal to the Metaverse” went on sale for the public for 24 hours only, with 64,031 passes selling for $300 each. Due to the fact that these passes will not be reissued, Recur’s secondary market is the only place to purchase them; hence their resale value has been high, currently priced at $680 for a single pass. As of today, there have been over 3.6 million transactions on the secondary market.
In terms of value, the highest-priced pass sold was Recur’s most limited edition – the “Pure White Zero Pass.” The pass closed the day before the remaining passes went on auction at the Christie’s auction house for 96ETH (approximately $420k at the time)
What Blockchain Does Recur Use?
RECUR will make Ethereum and Polygon blockchains accessible to its users as its first two blockchain networks. Launching Multi-Chain Deposits & Withdrawals is another major step towards RECUR’s goal of making the Metaverse more accessible, easy, and enjoyable.
Would you like to know what are some good start-up companies to invest in? Read our blog to learn.