- Tegro, an innovative NFT-20 exchange, co-founded by ex-WazirX co-founder Siddharth Menon and OGA Fit founder Ashish Rawat, secured seed funding from Polygon Ventures, catapulting its valuation to $100 million.
- The Tegro exchange allows mass trading of NFTs across Ethereum, Polygon, and other EVM-compatible chains, promoting accessible and widespread NFT trading.
In the burgeoning world of non-fungible tokens (NFTs), Tegro, an innovative NFT-20 Exchange, has successfully captured seed funding from Polygon Ventures. The round saw Tegro’s valuation soar to $100 million. Co-founders Siddharth Menon, former WazirX co-founder, and Ashish Rawat, founder of fitness start-up OGA Fit, welcomed the investment, which included contributions from other private investors.
Tegro revolutionizes NFT trading by supporting the decentralized NFT-20 protocol. This protocol allows users to establish and manage decentralized markets for NFTs, offering liquidity services, pricing, and order matching. The Tegro exchange extends to Ethereum, Polygon, and other EVM-compatible chains, enabling widespread NFT trading.
The platform’s unique feature is that it allows for bulk trading of NFTs at low costs. Users can participate in buying, selling, and trading NFTs, with costs as low as $0.02. This feature positions Tegro as a potential game-changer, breaking down barriers in NFT trading and creating accessible opportunities for users.
Ashish Rawat, co-founder and chief operating officer (COO) at Tegro, emphasized the company’s mission to onboard 100 million users into the NFT trading realm via the Tegro exchange. Tegro’s vision, according to Rawat, is a future where NFT trading is seamlessly achievable by traders globally.
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Supporting this vision, Shreyansh Singh, head of investments at Polygon Ventures, expressed their excitement at backing Tegro. Singh acknowledged that Tegro, by broadening liquidity across 15 cross-chain NFT markets, delivers NFT traders the convenience and simplicity they have come to expect from fungible tokens. Singh believes that Tegro is poised to transform the global NFT market, making it as swift, cost-efficient, and seamless as possible.
Highlighting Tegro’s potential, notable gaming projects such as CropBytes, MetaStar Strikers, and MetaSaga Warriors, experienced a staggering 100x increase in trading volumes on the platform within the first month of Tegro’s operations. The platform’s daily volumes also exceeded $75,000 during this period.
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