Nested, a Paris, France-based DeFi social trading platform based on financial NFTs, raised $7.5m in Series A funding round.
The round was led by digital asset investor Alan Howard with participation from Republic Capital, Kenetic Capital, and CMT Digital, among other investment firms, as well as angel investors and technophiles, including Joseph Eagan, former president of Polychain Capital, Lily Liu, co-founder of Earn, which was acquired by Coinbase, and Julien Bouteloup, founder of StakeDAO, REKT, Blackpool, and early contributor of Curve, amongst others.
The proceeds from the round will be used to build out Nested’s team of web3 technologists and introduce future product enhancements, such as portfolio leaderboards, staking, lending of the underlying assets, decentralized limit orders, and various types of social-oriented features such as user profile creations and integrated messaging features.
Led by Rudy Kadoch, Founder, Nested provides a platform that enables users to build portfolios of tokens, track their performance, add, sell and swap tokens, and sell in one click the underlying value of said portfolios at any time. Moreover, because the Nested portfolios are minted as NFTs, – thereby called ‘NestedNFTs’ – they are easily discoverable on the platform and can be used as a mechanism to further gamify and strengthen communities by allowing creators to share them with their audience via social media or send them as a gift or a reward.
For those new to crypto and DeFi, Nested allows one to explore profiles, portfolios, and replicate one’s favorite strategies. For DeFi users, influencers, or community leaders, the platform allows one to showcase portfolios, results, share knowledge, and earn royalties every time a portfolio is replicated.
The company has launched on Polygon, Binance Smart Chain, and Avalanche, and will continue to scale to bring the social trading experience to all compatible networks.
FinSMEs
02/03/2022