Billionaire Steve Cohen backs NFT startup Recur in $50 million round

The NFT startup Recur, focused on the non-fungible token (NFT) sector, has closed a Series A round worth $50 million at a $333 million valuation.

We raised $50m in Series A funding from DIGITAL, a metaverse fund led by the legendary hedge fund manager @StevenACohen2, @markdaniel94 and @AxieKing .

We can’t wait for what’s ahead. 🚀

Read more from Co-CEOs @ZachBruch and Trevor George: https://t.co/VkzCq8xdnZ#NFTs

— RECUR (@RecurForever) September 13, 2021

The round was led by Digital, a fund backed by billionaire Steve Cohen’s family office.

The company will use the proceeds to execute its market-entry strategy, develop new brands, and launch an NFT platform called NFTU.com.

The project also announced a partnership with Veritone, a company specializing in artificial intelligence technologies.

Earlier, Point72 Ventures, the Cohen-founded venture firm, led Messari’s Series A round for $21 million.

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