Fun

Fractional Investing Company Public Acquires NFT Startup Otis

News Feed - 2022-03-10 07:03:45

Fractional Investing Company Public Acquires NFT Startup Otis


The fractional investing company Public announced the acquisition of the digital collectibles and non-fungible token (NFT) technology startup Otis. Public’s co-CEO believes the acquisition will give Public the ability to provide people with the only place in the world “where people can invest in — and build a modern portfolio with — any fractional asset.” ‘Fractionalizing Any Asset’ — Social Investing Firm Public Acquires NFT Startup Otis


On March 9, the investing company Public explained in a blog post that the firm has acquired the NFT auction platform Otis. Bitcoin.com News reported on Otis at the end of 2021, back when Otis revealed it was auctioning six physical assets. The physical items revealed that day included a 1993 Simpsons Matt Groening DeBart card, a mint condition 2003 Topps Chrome Lebron James Rookie card, a Pokémon Yellow Gameboy video game, Nintendo’s Super Mario Bros. 3, and a 1971 Bob Ross painting.


Essentially, Otis takes an item valued at $5K or more, and then mints an NFT that represents the vaulted physical collectible. The owner of the physical item then gets the NFT and it can be traded and fractionalized. Public and its website public.com offers fractional investments as well, as the company provides users with fractional shares of stocks and exchange-traded funds (ETFs). Public has secured capital on several occasions including an initial seed round in 2018, a Series A through C, and the firm’s Series D fundraise in 2021 saw a $1.2 billion capital injection.


“We’re excited to announce the acquisition of Otis, a pioneer in fractional investing in NFTs, art, and collectibles,” Leif Abraham, Public’s co-CEO said in a statement on Wednesday. “With Otis joining Public, the Public platform will soon be the only place in the world where people can invest in — and build a modern portfolio with — any fractional asset. That means NFTs, art, collectibles, real estate, crypto, funds, stocks, and more — all in one place.” Fractionalized Digital Collectibles See Significant Demand Over the Last year


Fractionalized digital collectibles have become a hot topic in the last 12 months, and there are various projects dedicated to the concept. For instance, the protocol Unicly fractionalizes NFT collectibles via the use of a native token called utoken. At press time, dappradar.com metrics show the current market capitalization for fractionalized NFTs stands at $89.2 million today.


The physically-back NFT platform Courtyard recently partnered with the asset protection firm Brink’s in order to store 1,000 graded Pokémon cards and then mint them into NFTs. A project called Fractional and another one dubbed Daofi offer fractionalized digital collectible products as well. Dappradar.com stats further indicate that the fractionalized Doge NFT (DOG) is the largest project of its kind in terms of market cap. Tags in this story Courtyard, Daofi, Fractional, Fractional assets, Fractional ETFs, fractional NFTs, Fractional stocks, Investing Company, Leif Abraham, nft, NFTs, Non-fungible Token, Otis, Otis House, Otis NFT Market, Otis NFT platform, Otis NFTs, public, public.com, Public.com Fractional Investing, Social Investing


What do you think about fractional investing company Public acquiring NFT startup Otis? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Immutable Raises $200 Million in Temasek-Led Series C, NFT Startup Now Valued at $2.5 Billion FINANCE | 2 days ago Visa and Mastercard Suspend Operations in Russia as Part of Sanctions Over Ukraine FINANCE | 3 days ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleHOO Smart Chain Grant Plan “Cosmic Origin Project” Officially Opened for Registration Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItSouth African Mobile Network Operator MTN Buys Land in the Metaverse


Mobile network operator MTN recently staked claim to its status as one of the first South African companies to enter the metaverse, after it purchased 144 plots of digital land in the virtual world Ubuntuland for an undisclosed amount. MTN ... read more.Cambridge Centre for Alternative Finance Launches Digital Assets Research Project With 16 Banks Rwanda May Not Reach Decision on CBDC Issuance Until End of 2022 — Central Bank Official Proof-of-Work Ban Removed From Europe’s Proposed Crypto Regulation UK Regulator Bans Floki Inu Ad for Being Irresponsible, Exploiting Investor FOMO

News Feed

Ghana Ranked as Country With Second-Highest Debt Default Risk Globally
Ghana Ranked as Country With Second-Highest Debt Default Risk Globally According to Visual Capitalist, Ghana is now placed second on its list of countries with the highest default
Biggest Movers: XRP Rebounds on Friday, Nearing Recent Highs 
Biggest Movers: XRP Rebounds on Friday, Nearing Recent Highs  Xrp was up by nearly 10% on Friday, as the token moved closer to a recent four-month high. The move comes as consumer
ShapeShift settles SEC securities charges dating to its pre-DAO days
Derek Andersen5 hours agoShapeShift settles SEC securities charges dating to its pre-DAO daysShapeShift lived up to its name with a 2021 structural transformation, but it didn’t escape the wrath of the SEC.885 Total vi
‘Sustained’ Bitcoin ETF inflows may ‘buoy’ price despite slowing spot buying
Ciaran Lyons6 hours ago‘Sustained’ Bitcoin ETF inflows may ‘buoy’ price despite slowing spot buyingA more “sustained” run of spot Bitcoin ETF inflows may counteract Bitcoin “spot market buying slowing,” s
Cardano Whales Accumulated 410 Million ADA In April – Breakout Coming?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Leaked Data Outs Bitcoin Investment Company as Scam: Founders Deny the Allegations
Leaked Data Outs Bitcoin Investment Company as Scam: Founders Deny the AllegationsA South African group calling itself “Anonymous ZA” has published fresh information tha
XRP Eyes Breakout As Analysts Predict Rally Alongside Real-World Adoption
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Ray Salmond11 hours agoThe Agenda podcast chats with Energy Web on how to fight climate change with the help of blockchainEnergy Web CEO Jesse Morris explains why blockchain can make “going green” more efficient, how
Topps Unveils New MLB Inception NFTs — Firm’s NFT Series Now Minted on the Avalanche Blockchain
Topps Unveils New MLB Inception NFTs — Firm"s NFT Series Now Minted on the Avalanche Blockchain The American firm that manufactures chewing gum, candy, and collectibles, The Topp
Can Sony and Microsoft bring blockchain to gaming consoles?
Olga Vorobyeva34 minutes agoCan Sony and Microsoft bring blockchain to gaming consoles?Sony and Microsoft are angling to get into crypto gaming. Will they be able to succeed where others in the industry have failed?99 To
Colorado Church group tokenizes $2.5M chapel
Tristan Greene7 hours agoColorado Church group tokenizes $2.5M chapelThis may be the first tokenized church in the world.4878 Total views15 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect th
Argentina Organizes National Blockchain Committee to Implement State Level Strategy
Argentina Organizes National Blockchain Committee to Implement State Level Strategy The government of Argentina has designated a national blockchain committee in order to establish