Non-fungible tokens (NFTs) have a liquidity problem in that there is no way to make any money off them unless you sell them, and then you don't have them anymore. But what if they could produce yields as they appreciate in value just like traditional financial assets do? Bridgesplit was founded in 2021 to create an infrastructure layer linking NFTs and decentralised finance products, allowing for novel means to financialize NFTs.
As the first movers in this space, Bridgesplit doesn't face any competition in providing this infrastructure, and it has swiftly integrated with marketplaces such as Hyperspace and Holaplex to provide features such as as instant sales and group bidding with fractional ownership. It has launched a digital art exchange on its own infrastructure doing $7 million in trade monthly and has partnered with finance providers to offer a range of services to its customers.
Bridgesplit raised capital in a seed funding round in December 2021 led by Coinfund and Jump Capital. This was used to hire talent and develop its product. Its next steps are to expand into new verticals such as in-game assets in the video game sector, linking them to NFT markets and introducing an estimated billion new participants to Web 3.
Kirsty
Company Specialist at Welcome to the Jungle
