Paris, Feb. 21, 2022 — Nested, an all-in-one decentralized finance (DeFi) social trading platform based on financial nonfungible tokens (NFTs), announced on Feb. 21 that it raised $7.5 million in a Series A funding round. The round was led by renowned macro and digital asset investor Alan Howard and saw participation from Republic Capital, Kenetic Capital and CMT Digital, among other investment firms. Nested’s round was also joined by a range of angel investors and technophiles, including Joseph Eagan, former president of Polychain Capital; Lily Liu, co-founder of Earn.com, which was acquired by Coinbase; and Julien Bouteloup, founder of StakeDAO, Rekt and Blackpool and an early contributor to Curve, among others.
Nested is pioneering a new social trading era for the DeFi world. 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 with one click. Moreover, because the 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 with their audience via social media or send them as a gift or a reward.
For those new to crypto and DeFi, Nested allows one to explore profiles, portfolios and replicate one’s favorite strategies. For experienced crypto traders, influencers or community leaders, the platform allows one to showcase portfolios and results, share knowledge, and earn royalties every time a portfolio is replicated.
Rudy Kadoch, founder of Nested Finance, said, “The vision of Nested is to hybridize traditional finance, decentralized finance, NFTs and cryptocurrencies 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. By offering an easy-to-use, user-oriented trading experience and cultivating a community of investors who share knowledge, we aim to democratize access to decentralized finance and facilitate financial connectivity for all.”
Nested has launched on Polygon, BNB Smart Chain and Avalanche and will continue to scale to bring the social trading experience to all compatible networks. The proceeds from the round will be used to build out Nested’s team of passionate Web3 technologists and introduce future product enhancements, such as portfolio leaderboards, staking, lending of the underlying assets, decentralized limit orders, and various types of social-oriented features such as user profile creations and integrated messaging features.
Andrew Durgee, co-managing partner at Republic Capital, said: “Republic Capital backed Nested because we are thrilled to see such a mature product with a user experience that is primed for ease. We believe that Nested is ready to be used out of the box and geared for adoption.”
Moreover, Jehan Chu, co-founder and managing partner at Kenetic Capital, declared: “Cryptocurrency is a social currency, and Nested empowers people to leverage DeFi expertise to reinforce and expand their social networks. Kenetic is excited to support Nested in evolving the social financial future.”
Following a successful multimonth beta testing period during which Nested underwent numerous independent security audits, the platform is now available for use by all. Visit nested.fi to join the community today.
About Nested Finance
Nested is a game-changing social trading platform aimed at socializing DeFi and facilitating financial connectivity for the crypto community. Multichain and built to scale, Nested allows users to build a profile and then create, replicate, manage, update, send and share financial portfolios. These financial portfolios are represented as nonfungible tokens reflecting sets of tokens. Whenever a user’s Nested portfolio is replicated, they earn associated royalties. The more copies of a portfolio are made, the more royalties a user will earn! Nested’s team has put a lot of effort into designing the most user-friendly app, while preserving the highest level of decentralization.