• Strive is a web3 startup that aims to make high-value NFTs accessible to the majority by fractionalizing blue-chip NFTs and providing web3 literacy courses.
• They believe in democratizing the NFT market, allowing the bottom 95% of crypto holders and web3 users to participate.
• With backing from prominent investors, Strive seeks to increase liquidity, diversify risk, and promote inclusivity in the evolving world of NFTs.
Have you ever wanted to own a high-value digital artwork and let the idea go right out the window? Because how are you supposed to do that without breaking into a bank?! Yeah, I haven't either. And it may be because I don't really know what exactly NFTs are in the first place.
Non-fungible tokens (NFTs) are unique digital, cryptographic assets based on blockchain technology. And then there are blue chip NFTs which are basically the superstars of the digital world and NFT market. They also have limited availability and exclusivity, which makes them difficult to obtain for the average buyer.
Look at it as food trucks and exclusive restaurants. Utility NFTs are like food trucks that offer an array of reasonably priced and mouth-watering meals to a number of people coming from diverse backgrounds.
They are easily available and cater to different tastes and dietary preferences. Blue chip NFTs, on the other hand, are like those high-end restaurants that serve expensive sushi with caviar and pasta in cheese wheels (can you tell I’m hungry?). While these restaurants may offer unique and exquisite dining experiences, they are often pricey and accessible to only a select few.
Here’s where Strive comes into the picture.
Kartik Mehrotra and Swathi Perumala, came up with Striveon Technologies to bring about a community-driven platform, making NFT-based financial products accessible to the masses. The web3 startup in the NFT space has realized that the current NFT marketplaces are only accessible to those who can afford to invest large sums of money, typically upwards of Rs. 1 lakh.
Several blue-chip NFTs can range from a lakh to a crore, making it an unaffordable and risky asset class for retail investors (Don't worry, I've got you, I didn't know what it means either. Retail investors are individual or non-professional investors who invest for their own personal gain). This, coupled with poor asset-class liquidity, has kept most retail investors at bay.
In addition to it being unaffordable and hence, exclusive, outsiders may still question the lack of “real-world” use of NFTs. This is where utility NFTs (yes, one more kind of NFT) come in.
Utility NFTs are digital assets equipped with tangible rewards and direct applications, and they may just reel in the next generation of NFT adoptees. Utility NFTs are digital tokens that grant token holders access to exclusive, real-world use cases.
These digital assets are a kind of “NFT with benefits” that go one step beyond the average smart-contract token, offering perks ranging from redeemable rewards, memberships, access to events, and passive income opportunities.
Strive is on a mission to give the bottom 95% of crypto holders and Web3 users access to high-quality NFTs that are typically accessible to the top 5% of wealth holders and to help web2 users transition to web3 by creating web3 literacy and web3 accessibility.
They aim to achieve this goal by fractionalizing blue chip NFTs along with providing a team of experts who run live courses on Web3 to promote literacy among users. The platform has 75,000+ users who have attended live classes, and globally over 100,000+ Web3 users are on a waiting list to join its NFT marketplace.
Hold on, what is fractionalizing though?
Well, imagine the blue-chip NFT is a feast. You would like to arrange one but you don't have enough resources to. Let's say you and all your friends come together and arrange a potluck dinner. Each person brings a dish to share, and together, you create a feast, basically, pooling in resources to create a shared experience.
This is akin to how fractionalizing blue chip NFTs work. It allows for individuals to acquire a portion of these exclusive NFTs, providing a pathway to inclusion in a previously elusive market. By purchasing fractions of various NFTs, individuals can spread their risk and gain exposure to various kinds of these unique tokens.
This makes it accessible to a broader community. "Our goal is to provide access to high-quality NFTs such as BAYC that have traditionally been out of reach for most people in the space. We believe fractionalizing these NFTs can make them more accessible and democratize this space," said Kartik Mehrotra, CEO and co-founder, of Strive.
This pre-seed stage startup is on a roll, raising $500,000 in its first round of funding and backed up by leading investors such as 100X VC, Anupam Mittal, Let’s Venture, GrowX ventures, Amey Mashelkar (Jiogennext Fund), Saurabh Agarwal (founder, Zebpay), Sandhya Patel, and YPO.
Ninad Karpe, partner, 100X.VC said, “Strive offers a unique yet essential product for retail investors in the crypto market. Strive’s marketplace will help increase the liquidity of NFTs and make it easier for people to buy and sell NFTs in the broader market with an additional focus on risk diversification, faster ROI, and higher buying conviction. We look forward to the platform’s growth in the NFT training and investing ecosystem.”
Sandhya Patel, executive director, of Meghmani Pharma, representing YPO, said, “Strive is on a mission to make web3 more accessible to the masses and this is something we deeply support. We have seen them successfully build a large community of over 100k+ web3 learners and are confident in their ability to leverage this community in making NFTs a mainstream asset class for GenZ and millennials. Having already proved themselves in successfully generating $1.3mn from NFT sales revenue, we’re excited to see them launch their product this quarter and onboard their existing and new user base. They seem to be well on their way to generating $4m+ in revenue by the end of this year, positioning them as the leading fractional NFT player by earnings and user base. ”
As the fractionalized NFT market expands, the barriers to entry crumble and invite a wide and diversified range of enthusiasts to enter into this digital revolution. The world of NFTs is undergoing a transformative shift, and Strive is leading.
Strive focuses on the availability, inclusivity, and accessibility of NFTs by empowering individuals from all backgrounds to explore, invest in, and own high-quality NFTs that were once only within reach of a privileged few. Hop on for a journey to make NFTs an easy investment for the next generation of investors.
Edited by Shruti Thapa