The NFT fractionalization protocol has received exciting investments from established investors such as Coinbase Ventures, Solana Ventures, and Jump Capital.
Bridgesplit to Fractionalize SOL Based NFTs
Bridgesplit, a decentralized financial stack for NFTs, has announced the closure of its seed fund round of $4.25 million on Dec. 16.
The seed funding round was CoinFund and Jump Capital. Additional participants in the round were Coinbase Ventures, Solana Ventures, Not Boring Capital, Sfermon, Liquid2, a41 Ventures, and Rucker Park Capital. Amongst the several angel investors that participated in this round are:
Harry Hurst from Pipe
Jeff Maggionncalda from Coursera
Dylan Macaliano from Ship Capital
Esther Crawford from Twitter
“CoinFund’s NFT investment thesis views NFTs as a financial technology for uniquely valued goods. While the most visible use cases of NFTs revolve around art, collectibles, and in-game assets, the Bridgesplit team is rapidly advancing the state of the art in this space by launching financialization products which will work on Solana and other blockchains. CoinFund is extremely proud to support, fund, and actively work with the Bridgesplit team on the next leg of NFT innovation,” stated Jake Brukhman, CEO of Coinfund, in the official Medium blog about the announcement.
“As NFT use cases expand beyond collectibles, liquidity and high asset productivity become imperative to their growth and evolution. Bridgesplit is building the core infrastructure to solve these needs and help unlock the true potential of NFTs,” added Sourabh Sharma, Partner at Jump Capital.
In the month that Bridgesplit’s Devnet has been live, there have been more than 1,000 NFTs deposited with 500 unique users on the platform. In the previous week, the protocol launched its Mainnet Alpha with an inaugural fractionalized asset, MonkeDAO mascot, and DAO Jones. Supply was restricted to the most active members of the Bridgesplit and MonkeDAO communities.
What is Bridgesplit?
Bridgesplit is the decentralized finance stack designed especially for NFTs. The protocol attempts to solve problems for NFT whales with $10 million locked up in NFTs, collectors that want to get NFT exposure for 1 SOL, and even collections that want to enhance the utility of NFTs. Currently, the protocol serves 4 core functions which are NFT fractionalization, NFT pools, NFT derivatives, and scalable NFT-collateralized lending.
Source: Solana News