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VISA, a credit card company, bought a CryptoPunk this week for somewhere in the neighborhood of $150,000. That is a very 2021 sentence.

It is nonetheless the latest indication of big brands moving into the NFT space. The hiring spree by RECUR, a startup backed by Gary Vaynerchuk, Tyler and Cameron Winklevoss, Scott Belsky and others, looks like another.

RECUR, which raised a $5-million seed round led by the DeFi Alliance this spring, has more than 100 open positions. Its founders, Trevor George and Zach Bruch, promise big things are coming.

“We are excited to say we have partnered with and are currently building NFT experiences for some of the world’s largest IP,” George said in an interview with Crypto Investor.

Bruch said the NFT market’s rapid growth this summer has spurred new interest from potential clients.

“We’re seeing a significant uptick in interest,” he said. “We are so excited about the future of this industry and firmly believe that every business moving forward is going to need an NFT strategy in place.”

RECUR is building a service for minting and auditing chain-agnostic NFTs for brands. In an interview with Crypto Investor in April — during much quieter times for NFTs — Bruch said they aren’t concerned with the seculative ebbs and flows of the market.

“We think that NFTs are really the new extension for large global brands to interact with their fans at the everyday level, and we're trying to reach that. So we're looking past a lot of this speculation,” he said. “In fact, we don't think it's going to affect our business. The way that we're approaching it is that we think NFTs will be used as a larger extension for folks to interact with a brand and explore and have fun in a digital universe.”

This week, Bruch said the market’s immediate movements aren’t as important as the macro trends, which he sees as bullish.

“We know digital scarcity is here to stay, which to us is representative of the fact that this is not a bubble and the NFT space is only going to continue to grow,” he said. “We're also beginning to see more traditional IP entering the space in a meaningful way, indicating that the audience base for this industry is evolving from being something niche to being more mainstream. We believe that NFTs will be building blocks and pillars to community formation moving forward.”

RECUR is not without competitors. VaynerNFT, launched by one of its own backers, Gary Vaynerchuk, offers similar white glove services for brands entering the NFT space. Last month, VaynerNFT announced a partnership with Budweiser to build a major NFT strategy for the beverage giant. 

VISA, a credit card company, bought a CryptoPunk this week for somewhere in the neighborhood of $150,000. That is a very 2021 sentence.

It is nonetheless the latest indication of big brands moving into the NFT space. The hiring spree by RECUR, a startup backed by Gary Vaynerchuk, Tyler and Cameron Winklevoss, Scott Belsky and others, looks like another.

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