Nested, a crypto social trading platform based on financial NFTs, today announced that it has raised $7.5 million in a Series A funding round. The round was led by macro and digital asset investor Alan Howard and also saw participation from Republic Capital, Kenetic Capital, and CMT Digital, among others.
The platform enables users to easily build portfolios of tokens, track their performance, add, sell and swap tokens, and sell the underlying value of said portfolios at any time.
Moreover, because all Nested portfolios are minted as NFTs – called ‘NestedNFTs’ – they are easily discoverable on the platform and can be used as a mechanism to further gamify and strengthen communities by allowing creators to share them or send them as a gift or a reward.
Notable, Nested allows users to explore profiles, portfolios, and replicate one’s favorite strategies. For DeFi users, influencers, or community leaders, the platform allows one to showcase portfolios, results, share knowledge, and earn royalties every time a portfolio is replicated.
“The vision of Nested is to hybridize traditional finance, decentralized finance, NFTs, and crypto to forge a financial product that is both powerful and unique: the Nested portfolio. This is a tradeable, shareable, and replicable portfolio that can be managed and monetized by advanced and novice crypto investors alike.”
– Rudy Kadoch, Founder of Nested Finance
Proceeds from the funding round will be used to build out Nested’s team and introduce new product enhancements, such as portfolio leaderboards, staking, lending of the underlying assets, decentralized limit orders, and more types of social features such as user profile creations and integrated messaging.
Already, Nested has launched on Polygon, Binance Smart Chain, and Avalanche, and plans to continue adding support for more networks. Following a successful multi-month beta testing period in which Nested underwent numerous independent security audits, the platform is now available for use.