NFT platform, known as Fractional, renamed itself Tessera

The crypto community once again is quaked by the big news. Recently, the NFT-based platform initially dubbed Fractional was rebranded to Tessera, having raised $20 million from the most reputable ventures.

Making its competitors bite the dust, the company moves forward in re-affirming its foothold in the realm. The driving force of the endeavor was Paradigm, which led the funding round with the participation of Focus Labs, Uniswap Labs Ventures, E Girl Capital, and Yunt Capital. Additionally, about 50 Angel Investors have contributed to the round by raising Tessera to the non-fungible Olympus with $20 of funding. Notably, most of the latter have deep expertise in the DeFi and NFTs. 

According to Tessera founder and CEO Andy Chorlian, these ‘angels’ “will be very instrumental in giving the right feedback and suggestions to improve the protocol.

Tessera operates initially around dividing NFTs, allowing users to benefit from royalties on the parts they give out for rent. The offer brings many bounties, offering mid-income investors a place in the top-ranking NFT projects and their highly profitable communities.

The brand-new protocol will help sustain the integrity of the staff of the 24 persons it currently works with. Chorlian believes these newcomers will boost marketing, engineering, and beyond to empower the brand’s scaling.

It was a really, really big barrier for a lot of our users, who are just so used to trading NFTs on OpenSea or any of these other marketplaces, and that level of education and trying to explain how all these works were just a step too far for a lot of people,” Chorlian commented on the initiative.

The NFT-splitting decision is not as breakthrough as it might have seemed. Previously, Unique Network came up with a solution of splitting a highly-demanded CryptoPunk NFT into 56,000 parts with the portion of ownership rights.

Seemingly, the splitting trend is up. What do you think? Go to our socials for discussion! 

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