Tegro, an NFT-20 Exchange co-founded by Siddharth Menon, former co-founder of crypto exchange WazirX, and Ashish Rawat, founder of fitness startup OGA Fit, has successfully secured $100 million in seed funding from Polygon Ventures and private investors. The funding comes as Tegro aims to revolutionize the NFT trading space by providing a platform for bulk trading of non-fungible tokens (NFTs) across Ethereum, Polygon, and other EVM-compatible chains.
According to a press release issued by the company, Tegro’s exchange facilitates the seamless trading of NFTs, allowing users to buy, sell, and trade these unique digital assets for as low as $0.02. The platform supports the decentralised NFT-20 protocol, which empowers users to set up and manage decentralised markets for NFTs. These markets offer liquidity services, pricing, and order matching, providing users with valuable tools to track their portfolios and monitor the value of their NFT holdings.
Tegro’s co-founder and Chief Operating Officer (COO), Ashish Rawat, expressed the company’s ambitious mission of onboarding 100 million users into the world of NFT trading through the Tegro exchange. Rawat envisions a future where NFTs are easily tradable by traders worldwide, and Tegro is dedicated to making that vision a reality.
Polygon Ventures, a prominent investor in the blockchain space, recognized the potential of Tegro’s platform and its impact on the global NFT market. Shreyansh Singh, Head of Investments at Polygon Ventures, emphasized the convenience and simplicity that Tegro brings to NFT traders by expanding liquidity between 15 cross-chain NFT markets. Singh expressed excitement about backing Tegro, believing that it will revolutionize the NFT market by providing a fast, cost-efficient, and seamless trading experience.
During its first month of operation, Tegro has already made a significant impact in the NFT trading space. Notable gaming projects such as CropBytes, MetaStar Strikers, and MetaSaga Warriors experienced up to a 100x increase in trading volumes on the Tegro platform. The exchange also achieved daily trading volumes surpassing $75,000, indicating strong user adoption and engagement.
Looking ahead, Tegro has plans to announce “big partnerships” and launch a “massive airdrop campaign” for the community, further enhancing its offerings and attracting more users to its platform. The company remains committed to exploring innovative tools and technologies in the NFT trading space to provide traders with cutting-edge features.
With its successful seed funding round and growing user base, Tegro is poised to play a significant role in shaping the future of NFT trading. As the company continues to expand its services and forge strategic partnerships, it aims to make NFT trading accessible, efficient, and profitable for traders worldwide.
