RECUR, the new technology company that designs and develops on-chain branded experiences allowing fans to buy, collect and resell digital products and collectibles (non-fungible tokens, known commonly as NFTs), has announced that it has raised $5 million, the largest seed-raise to date in NFT history. It will build branded NFT fan experiences for global brands, the first of which is set to launch in summer 2021.

RECUR will change the NFT market by creating a standard for a decentralized recurring royalty. Though assets will default to Ethereum, RECUR will be chain agnostic. RECUR believes that NFTs will act as a gateway for the everyday consumer to enter the crypto space, making its opportunity for growth exponential for its partnered brands.

The raise was led by the Defi Alliance and included investors and funds such as:

RECUR was founded by co-chief executive officer Zach Bruch, crypto industry veteran, and co- chief executive officer, Trevor George, digital licensing industry pioneer. The core team includes some of the top minds across the crypto and licensing spaces: president Stephen Teglas, former senior vice president, licensing, Disney and senior vice president/general manager, Warner Bros. Consumer Products; head of engagement advisor Chris Heatherly, former executive vice president, games, NBC Universal and senior vice president, games, Disney; and chief technology officer James Seibel, former director, engineering, Poloniex, among others.

“NFTs will serve as the ultimate gateway for billions to enter the greater crypto ecosystem,” says Bruch. “The future digital world and economy will be decentralized which we are not only are preparing for but championing. Our NFTs will have the widest range of distribution and incorporate a recurring royalty element in the underlying code itself.”

Bruch has worked and held leadership positions at firms in the crypto industry such as Kraken, Cumberland/DRW and JST Capital and is the founder of Manna, a proprietary trading and investment firm. George owns Trevco and Blue Wheel.

“At Trevco, we have always taken pride in going where the fans go,” says George. “We helped bring the licensing community into Amazon with physical products, and with our incredible team, look forward to bringing our beloved brand partners into the crypto ecosystem through digital products (NFTs), in a responsible, long term way.”