Public.com, a platform that enables users to invest in stocks, funds, and cryptocurrencies has announced its acquisition of Otis – a startup that aids investment in fractionalized Non-Fungible Tokens (NFTs), arts, and collectables.
With the purchase amount undisclosed, both Public and Otis will combine the innovation their platforms are known for to serve as the one-stop venue for value investing.
Both Public and Otis were floated in 2019, and while the former focused on stocks and funds at the beginning, the latter was solely committed to helping investors own parts of a prestigious NFT or artwork, broadening the inclusivity and lowering the standards of entry for collectors across the board.
It is undoubted that the digital asset investing world is broadening day by day, and to remain a viable player in this new world, startups must offer the type of products that are currently in demand to the investing populace. This is exactly what the partnership between Public and Otis will bring, giving the naturally marginalized retail investors the opportunities to own exclusive and highly-priced assets.
“Historically, the opportunities to diversify with alternative investments have been limited to a small pool of investors. They are often locked behind exclusive art galleries and connections to other collectors, in addition to commanding price tags that are out of reach for the average investor. Turning these physical assets into fractional investable securities has been the great unlock of the past few years, and it has, in turn, created a whole new asset class for people to consider,” the announcement reads, detailing its primary motive in backing retail enthusiasm and drive with the Otis acquisition.
Mergers and Acquisitions are not uncommon in the world of Web3.0, especially as it relates to offering targeted products and services for investors. One of the latest high-profile acquisitions as reported by Blockchain.News is the acquisition of CFTC licensed derivatives provider LedgerX.
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