TechFlow news, Tegro, an NFT trading platform founded by Siddharth Menon, former co-founder of cryptocurrency exchange WazirX, has completed its seed round at a $100 million valuation. The round was backed by Polygon Ventures and a group of private investment firms, with specific funding amounts not disclosed.
The platform enables bulk trading of non-fungible tokens (NFTs) across Ethereum, Polygon, and other EVM-compatible chains, allowing users to buy, sell, and trade NFTs for as low as $0.02. In addition, Tegro supports the decentralized NFT-20 protocol, enabling users to build and manage decentralized NFT marketplaces, while offering liquidity services, pricing, and order matching, allowing users to track their portfolios and monitor the value of their NFTs.
Ashish Rawat, co-founder and Chief Operating Officer (COO) of Tegro, said their ultimate mission is to bring 100 million users into the world of NFT trading through the Tegro exchange, envisioning a future where traders worldwide can easily trade NFTs.
Shreyansh Singh, Investment Lead at Polygon Ventures, said Tegro provides NFT traders with the same convenience and simplicity as fungible tokens by expanding liquidity across 15 cross-chain NFT markets, and believes Tegro will revolutionize the global NFT market by making it as fast, cost-effective, and seamless as possible.
In Tegro’s first month of operation, trading volume for prominent game projects on the platform—CropBytes, MetaStar Strikers, and MetaSaga Warriors—increased 100-fold, with Tegro’s daily trading volume surpassing $75,000. Over the coming months, Tegro expects to announce several "major partnerships" and large-scale community "airdrop campaigns."
Additionally, the company continues to explore innovation in the NFT trading space, providing traders with cutting-edge tools and technologies to make NFT trading accessible to everyone.
