Jupiter raises $5 million to develop NFT exchange
“Our team has been working around the clock to bring Jupiter to life, and we look forward to establishing our presence at the intersection of blockchain technology and financial markets.”
Jupiter Exchange has closed a $5 million seed funding round led by White Hilt Capital in order to build out its alternative asset exchange using fractional NFT technology.
The startup curates iconic objects and makes fractional ownership available to anyone through its digital marketplace and exchange.
Jupiter establishes a simple process where the ownership of each carefully curated item, such as fine art, cars, sneakers, and pop culture memorabilia, is minted as an NFT and fractionalized into individual ownership tokens.
Once sold out on the Jupiter marketplace, the item is listed on the Jupiter Exchange and available through a traditional bid-ask model.
Expanding ownership opportunities for diversified portfolios
Loren Dealy Mahler, CEO of Jupiter Exchange, said: “We are thrilled to finally introduce Jupiter to the world. Beauty belongs to those who appreciate it, and we are grateful to White Hilt Capital for sharing in that vision and partnering with us to facilitate expanded ownership of the world’s most beloved items. Our team has been working around the clock to bring Jupiter to life, and we look forward to establishing our presence at the intersection of blockchain technology and financial markets.”
David Mazaheri, Managing Partner of White Hilt Capital, commented: “As a global financial institution, we look for impactful investment opportunities where technology is leveraged in an established but archaic market segment. Historically, the alternative asset market is inefficient and participation has been closed to all but a few high-net-worth investors. By leveraging NFT technology, Jupiter is expanding ownership opportunities to anyone who cares about maintaining a diversified portfolio of investment-grade assets. Whether someone feels passionate about an item or just wants to explore new investment opportunities, Jupiter has created an ecosystem of tools that enable that pursuit.”
Jupiter Exchange chief executive Loren Dealy Mahler joined the project in March 2022 after leading her own firm,