Jupiter Exchange, a digital asset exchange using fractional NFT technology, raises $5 million in a Seed Funding round led by White Hilt Capital.
Jupiter curates iconic objects and makes fractional ownership available to anyone through its digital marketplace and exchange.
Jupiter Exchange facilitates ownership of the world’s most iconic objects by leveraging fractional NFT technology to give anyone the opportunity to own the things they’ve always dreamed about.
The ownership of each carefully curated item, such as fine art, cars, sneakers, and pop culture memorabilia, is minted as an NFT and fractionalized into individual ownership tokens. Once sold out on the Jupiter marketplace, the item is listed on the Jupiter Exchange and available through a traditional bid-ask model.
Commenting on the funding news, Loren Dealy Mahler, CEO of Jupiter Exchange, said:
“Beauty belongs to those who appreciate it, and we are grateful to White Hilt Capital for sharing in that vision and partnering with us to facilitate expanded ownership of the world’s most beloved items. Our team has been working around the clock to bring Jupiter to life, and we look forward to establishing our presence at the intersection of blockchain technology and financial markets.”
Jupiter Exchange mentions on its website, “Our mission is to facilitate the ownership of the world’s most beloved objects by making them affordable for anyone.”
So, how does the fractional NFT technology work?
At the very first step, Jupiter curates the most exclusive objects from around the world.
Once curated, for each object, a single NFT is created and then divided into a large number of ownership tokens with equal value.
After that the ownership tokens are listed for sale on the Jupiter Marketplace where anyone can purchase them. When they’re sold out, the object moves to the Jupiter Exchange, where any ownership token can be bought and sold with real-time price discovery.
So, what’s new? According to Jupiter Exchange, the traditional market for iconic and luxury assets has always been out of reach for the majority of people who feel most passionate about these objects.
By leveraging NFT technology, Jupiter exchnage create digital ownership of real-world assets, giving anyone the opportunity to get ownership of iconic assets.
So, this is quite different from a normal NFT that represents single unique ownership of a complete asset.
Coinllectibles is another NFT project that focuses on rare memorabilia, numismatic areas, sports, limited edition toys, fashionwear, watches, and more. However, each unique object is connected with a single unique NFT.
David Mazaheri, Managing Partner of White Hilt Capital, said:
“As a global financial institution, we look for impactful investment opportunities where technology is leveraged in an established but archaic market segment.”
“Historically, the alternative asset market is inefficient and participation has been closed to all but a few high-net-worth investors. By leveraging NFT technology, Jupiter is expanding ownership opportunities to anyone who cares about maintaining a diversified portfolio of investment-grade assets.
“Whether someone feels passionate about an item or just wants to explore new investment opportunities, Jupiter has created an ecosystem of tools that enable that pursuit,” David Mazaheri said.
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