Fractional Investing Company Public Acquires NFT Startup Otis – Finance Bitcoin News

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. 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 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, 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. 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,, 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 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 News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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. 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.

More Popular News

In Case You Missed It


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *