Share this article
Recur Raises $50M in Round Led by Steve Cohen-Backed Digital
The fundraising values the company at $333 million.
By Eli Tan
Updated May 9, 2023, 3:24 a.m. Published Sep 13, 2021, 4:30 p.m.
Make us preferred on GoogleRecur, a designer and developer of non-fungible tokens (NFTs) for sports fans, said it raised $50 million in a Series A funding round led by Digital, an investment platform backed by hedge fund billionaire and New York Mets owner Steve Cohen.
The funding round values the company at $333 million, Recur said Monday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company also said it’s planning to bring collegiate athletics to the NFT space, starting with the Pac-12 Conference. Recur has partnered with Veritone, an artificial intelligence company, to license Pac-12 video highlights on NFTU, a new marketplace for National Collegiate Athletic Association (NCAA) themed NFTs.
Recur’s co-CEO Zach Bruch said in a press release that the company is aiming to “democratize access to NFTs” and bring accessibility to sports fans who aren’t engaged in the cryptocurrency world. The deal is the first NFT-specific licensing contract for an NCAA conference.
Investors in Recur’s $5 million seed round in March included DeFi Alliance, Courtside VC, Volt Capital and internet entrepreneur Gary Vaynerchuk.
More For You
Accelerating Convergence Between Traditional and On-Chain Finance in 2026?
Commissioned bySociete Generale-FORGE
Plus pour vous
Recapping Consensus Hong Kong
Crypto's role in payments for AI, regulatory changes and the digital asset market dominated conversations on the ground.
Ce qu'il:
- Speakers at CoinDesk's Consensus Hong Kong conference said crypto and stablecoins are likely to become the default payment tools for autonomous AI agents in an emerging "machine economy."
- Market participants warned that bitcoin, which has already dropped nearly $30,000 in a month, may fall further, with $50,000 seen as the level to watch.
- Hong Kong regulators are pressing ahead with crypto rules even as others wait to see how U.S. legislation develops.
