Entering the New Phase of Collective Ownership as Tessera
As we enter a revolutionary new phase for NFTs, we’re excited to announce:
- A new name
- A new round of funding
- An ambitious, focused vision
We developed Fractional to solve a simple problem — collective ownership of NFTs.
In just one year, we’ve seen a massive shift in the thinking and behavior around NFTs, moving from a basic framework and passive collective ownership, to a world where NFT utility goes far beyond just ownership. Minting an NFT today can mean governance vehicles, in-game assets, membership passes, and much more.
And, a lot of this innovative magic is happening daily on our platform. Since launching in 2021, Fractional has provided over 70,000 people the ability to collectively own over 6,500 of the world’s most sought after NFTs. People used Fractional to connect with artists, form groups around memes, and support the public good.
Amazing things happened
We saw fans come together to buy a Zombie Cryptopunk, we saw people from all over the world raise $8M for Ukraine, we saw Azuki experiment with new ways to connect with fans, and we’ve even seen entire DAOs like Doge NFT and Free Ross DAO spring up organically. Collective ownership through our platform has not only reduced entry costs and increased access to NFTs, but it has enabled powerful new communities.
NFTs are transforming how people interact, build community, and view governance, so we’re transforming too — from a simple smart contract to full-blown NFT infrastructure to support the future of collective ownership.
Fractional is now Tessera
Today we’re introducing our new name, Tessera. Tessera is where you go to own, govern, and experience extraordinary things, together.
Earlier this summer we closed our Series A, a $20M round led by Paradigm. The round also included investments from Focus Labs, Uniswap Labs Ventures, E Girl Capital, Yunt Capital, and over 50 incredible angel investors including the Laus, Keyboard Monkey, and DC Investor.
We chose to bring a wide, diverse range of investors into this funding round to enable us to get even more feedback from real, invested, crypto-native people who use our platform.
So what’s next?
Bringing collective ownership to everyone
With this new phase, the team is focused on curating the most extraordinary collective ownership experiences produced by the greatest creators, builders, and leaders. We hope to help build a world where anyone can have the opportunity to collectively own and govern things they value, without reliance on central gatekeepers to execute decisions and actions on their behalf.
Over the next few days, you will begin seeing our existing social channels switch over to our newly refreshed branding and content.
Over the next few months you will start to see us rolling out new and exciting ways to own NFTs online with friends and strangers alike.
What this means for Fractional.art
TL;DR: not much (yet)
Learn more here: ‘The Future of Fractional.art’
Want to work with us? We’re growing!
Want to help us bring collective ownership to the world and work with a world class team? Explore our technical and non-technical roles here:
Join the conversation