Fractional Token Company, also known as Fractional.art or Fractional, has raised a total of $7.9 million in seed funding.
The company closed a $6.3 million round of funding on August 5. Fractional co-founder Andy Chorlian told us that Robot Ventures provided $500,000 earlier this year and also contributed to this most recent round. Other funders include Divergence Ventures, Flamingo DAO, Variant Fund and Delphi Ventures.
Central to the project is a concept known as fractional unforgeable tokens. Essentially, it results in NFTs being divided into digital fragments that can then be distributed or sold as part of a “whole” NFT.The NFT fragments themselves are fungible ERC-20 tokens that can be traded or bought and sold on decentralized exchanges or marketplaces, for example.
Fractional COO Shant Marootian told us that Fractional intends to use the funds to expand its team, particularly in the area of smart contracts and front-end development. The startup also intends to expand its business development team and internal consultants.
The startup currently has 200 curators and 2,500 NFT cents owners.NFT scores include scores from CryptoPunks, Twin Flames, Meebits, XCOPY and Bored Ape Yacht Club.