Founded by crypto industry expert Zach Bruch and digital licensing industry pioneer Trevor George, RECUR is a technology company that designs and develops on-chain branded experiences that allow fans to buy, collect, and re-sell digital products and collectibles (NFTs). RECUR will be chain agnostic and is fundamentally changing the NFT market by creating and setting the standard for a decentralized recurring royalty, creating the widest distribution and reach for NFTs minted on their platform.
An investment platform backed by the office of billionaire hedge fund manager Steve Cohen led the Series A round that raised $50 million. Digital, a metaverse investment platform, led the round.
According to the non-fungible token-focused company, the funds will go towards licensing rights, new partnerships, and hiring. The company’s founders are Zach Bruch and Trevor George. According to an email from the founders, the infrastructure of the company aims for mass usage. “Our engineers built the infrastructure to power millions of micro-transactions between fiat currencies and cryptocurrencies.”
In a previous round of funding, RECUR raised $5 million from investors such as Joseph Lubin, co-founder of Ethereum, Gemini, and the Defi. In addition, Cohen will be on RECUR’s board of directors.
9 DECEMBER. RECUR PORTAL PASS RESULTS:
RECUR sold 64,031 NFTs at $300 each, totaling just shy of $20M in 24 hours.
RECUR’s rarest NFT, Pure White Zero, sold for a whopping $~$420,000 (96 ETH) in an auction with Christie’s.
75% of all RECUR Portal Pass purchases came from Fiat (non-crypto), indicating the ushering of a brand new fanbase into web3.
RECUR offered Apple Pay, Google Pay, Credit Card and Crypto as forms of purchase – making them one of the first NFT platforms to accept Apple Pay.
Nearly ¼ of all purchases were made via Apple Pay.
Fans in over 121 countries made a purchase and 221 countries were supported from a payment and compliance standpoint.
RECUR now has nearly 30K registered users.
Recur NFT Project CEO interview | Branded NFT Fan Experiences
October 4, 2021