RECUR, the NFT firm backed by billionaire hedge fund manager Steve Cohen, announced Wednesday that it plans to create an NFT trading platform with media giant ViacomCBS related to the company’s brands and franchises.
Founded by Zach Blanche and Trevor George, RECUR is breaking into the cryptocurrency space after reaching a valuation of $333 million in a funding round led by a Steve Cohen-backed investment firm.RECUR is trying to stand out in the crowded space by creating NFT marketplaces tied to specific brands through licensing agreements with companies.
RECUR plans to launch its ViacomCBS platform in the spring of 2022.RECUR plans to take a “chain approach” by accepting payments via debit and credit cards.
ViacomCBS has a broad portfolio that includes MTV Nickelodeon and Comedy Central – opening the door for NFTs tied to brands like SpongeBob SquarePants and South Park. A spokeswoman declined to comment on how RECUR prioritized the brands and the economic details of the deal.
“Driven by beloved characters and iconic products with multi-generational appeal, we are excited to further accelerate the presence of our consumer products in a growing meta-universe,” said Pam Kaufman, president of consumer products at ViacomCBS.” By partnering with RECUR to create an NFT platform dedicated to ViacomCBS IP, voracious collectors and first-time NFT purchasers alike will find unique opportunities to own their favorite franchises.”