PARIS--(BUSINESS WIRE)--Nested, an all-in-one DeFi social trading platform based on financial NFTs, today announced that it has raised $7.5 million in a Series A funding round. The round was led by renowned macro and digital asset investor Alan Howard and saw participation from Republic Capital, Kenetic Capital, and CMT Digital, among other investment firms. Nested’s round was also joined by a range of 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.
Nested is pioneering a new social trading era for the DeFi world. The platform enables users to easily 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.
Rudy Kadoch, Founder of Nested Finance, said, “The vision of Nested is to hybridize traditional finance, decentralized finance, NFTs, and cryptocurrencies to forge a financial product that is both powerful and unique: the Nested portfolio. This is a tradeable, shareable, and replicable portfolio that can be managed and monetized by advanced and novice crypto investors alike. By offering an easy-to-use, user-oriented trading experience and cultivating a community of investors that share knowledge, we aim to democratize access to decentralized finance and facilitate financial connectivity for all.”
Nested has launched on Polygon, Binance Smart Chain, and Avalanche, and will continue to scale to bring the social trading experience to all compatible networks. The proceeds from the round will be used to build out Nested’s team of passionate 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.
Andrew Durgee, Co-Managing Partner at Republic Capital, said, “Republic Capital backed Nested because we are thrilled to see such a mature product with a UX that is primed for ease. We believe that Nested is ready to be used out of the box and geared for adoption.”
Sam Hallene, Investor at CMT Digital, said, “The use cases and applications for NFTs continue to expand, and Nested is at the forefront of bringing NFTs to trading and investing. Rudy and his talented team have developed an elegant platform that crypto enthusiasts of all experience levels can enjoy and we are excited about their potential to contribute to this growing marketplace.”
Jechan Chu, Co-Founder and Managing Partner at Kenetic Capital, said, “Cryptocurrency is a social currency and Nested empowers people to leverage Defi expertise to reinforce and expand their social networks. Kenetic is excited to support Nested in evolving the social financial future.”
Following a successful multi-month beta testing period in which Nested underwent numerous independent security audits, the platform is available for use by all now. Visit nested.fi to join the community today.
Nested is a game changing social trading platform aimed at facilitating financial connectivity for the crypto community. Multi-chain and built to scale, Nested allows users to build a profile and then create, replicate, manage, update, send and share financial portfolios. These financial portfolios are represented as non-fungible tokens (NFTs) reflecting sets of tokens. Whenever a user’s Nested portfolio is replicated, he/she earns associated royalties. The more copies of a portfolio are made, the more royalties a user will earn! Visit nested.fi to join the community today.