Non-fungible token (NFT) platform RECUR has announced a $50 million Series A round of funding at a $333 million valuation. In addition, RECUR also revealed the launch of NFTU, a digital marketplace for collegiate sports collectibles, enabled by a partnership with collegiate trademark licensing company CLC and Veritone.
The investment was led by metaverse investment firm Digital, founded by the family office of investor Steve Cohen, the owner of the MLB team New York Mets. Cohen will serve on the board of RECUR.
Athlete monetization in collegiate sports has been a heated topic over the last couple of years. Until recently, the NCAA, the governing body of collegiate sports, did not allow student athletes to financially benefit from their name, image, and likeness (NIL).
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