Jupiter Exchange has raised $5 million to launch an alternative asset exchange, according to a statement from the company. The Seed round was led by White Hilt Capital.
Jupiter Exchange will leverage NFT technology to “curate” iconic objects and make fractional ownership possible for anyone on the marketplace.
Loren Dealy Mahler, CEO of Jupiter Exchange, commented:
“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, explained they look for opportunities where technology can be utilized to improve upon an archaic market segment:
“Historically, the alternative asset market is inefficient andparticipation 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 enable trading in fine art, cars, sneakers, and pop culture memorabilia. A minted NFT will be fractionalized into individual ownership tokens. Once sold on the Jupiter marketplace, the item is listed on the Jupiter Exchange and available through a traditional bid-ask model.
In a recent blog post, Jupiter Exchange explained:
“Jupiter exists to provide a bridge between old-world luxury and the modern era of digital ownership. We believe everyone should have the opportunity to own beautiful things, and whether you’re a passionate collector or an adventurous investor, Jupiter Exchange was built to bring that vision to life.”