Public’s coCEO believes that the acquisition will allow Public to offer people the only place “where people are able to invest in — or build a portfolio with — any fractional assets strong>
‘Fractionalizing any Asset’ — Social Investing firm Public Acquires NFT Startup Otis
Public , an investing company, announced on March 9 that it had acquired Otis’ NFT auction platform. Bitcoin.com News reported Otis in 2021, when Otis announced it was selling six physical assets. A 1993 Simpsons Matt Groening DeBart Card, a mint condition 2003 Topps Chrome Lebron James Rookie Card, and a Pokémon Yellow Gameboy videogame, as well as a 1971 Bob Ross painting were some of the physical items that were revealed on that day.
Otis then takes a $5K item and mints an NFT to represent the vaulted physical collectible. The NFT is then given to the owner of the item and can be traded or fractionalized. The company’s website public.com also offers fractional investments. Users can get fractional shares of stocks or exchange-traded funds. Public secured capital on multiple occasions, including an initial seed round for 2018 in Series A through C. The firm’s Series D fundraise of 2021 saw a $1.2 million capital injection.
Leif Abraham, Public’s coCEO, said Wednesday that the company was excited to announce Otis’ acquisition. Public will soon be the only platform where anyone can invest in any fractional asset and create a modern portfolio using it. Otis has joined Public. This means you can find NFTs, art and collectibles as well as crypto, funds, stocks, and other assets all in one location.
The Last year has seen significant demand for fractionalized digital collectibles
In the past 12 months fractionalized digital collectibles has been a hot topic. There are many projects dedicated to this concept. The Unicly protocol fractionalizes NFT-collectibles through the use of a native token called Utoken. According to dappradar.com metrics, the market capitalization of fractionalized NFTs is $89.2 million at press time.
Recently, Courtyard, a physically-back NFT platform, partnered with Brink’s to store 1,000 graded Pokemon Cards and mint them into NFTs. Another project, Fractional, and one called Daofi both offer fractionalized digital collectible items. Dappradar.com statistics also indicate that the fractionalized Doge NFT (DOG) is the largest project in terms of market capital.
