SAN FRANCISCO, November 2, 2022— Courtyard, the physically-backed NFT platform, announced today that it has acquired USD 7 million in initial investment from New Enterprise Associates (NEA), with participation from Y Combinator, OpenSea Ventures, VaynerFund, Brink’s, Cherry Ventures, and a small group of angel investors. For better liquidity, the business has constructed cutting-edge blockchain technology that allows tangible items to be held and exchanged as non-fungible tokens (NFTs). The additional funds will fund product development, recruiting, and expansion within Courtyard’s target market.
There are inherent frictions in the purchase and sale of high-value physical goods. Transactions can take several days to complete and are subject to shipping delays, international restrictions, and outright fraud. Courtyard enables the secure instant transfer of ownership of physical collectibles anywhere in the world via NFTs without the physical item needing to be moved.
Nicolas le Jeune, Co-founder, and CEO of Courtyard:
“We are excited to lay the groundwork for a forward-thinking foundation for commerce. Most of us on the Courtyard team are collectors in some capacity and have firsthand knowledge of the difficulties of trading. We are excited to introduce brands and consumers to the future of buying and selling physical assets and to provide them with the control, transparency, and security that the collector ecosystem has lacked thus far.”
Brink’s Senior Commercial Director Oliver Buckle-Wright:
“Investing in Courtyard represents an exciting digital extension of Brink’s secure storage and transportation capabilities as we continue to explore new trends and technology. By securing the physical items represented by NFTs on the blockchain, we build a bridge between offline and digital marketplaces, providing collectors with peace of mind that their high-value items are safe.”
More about the startup:
Courtyard has partnered with Brink’s, the global leader in total cash management, payment solutions and route-based secure logistics to ensure the highest levels of security and accountability for physical asset storage. When customers buy a physical asset from Courtyard, they receive an NFT that includes a custom 3D rendering of the investment to display in the digital world.
The NFT serves as a digital voucher for proof of ownership and authenticity, allowing the physical asset to be traded without being physically moved or re-authenticated at each sale.
Through Connected Collectibles, a new, frictionless way of storing and trading physical goods, Courtyard is redefining physical asset ownership. They believe that blockchain technology has the potential to transform the USD 370 billion collectible market, and they want to provide additional liquidity to reduce the friction associated with trading high-value assets. This is a crucial application of blockchain technology that solves a physical problem.
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, with participation from Y Combinator, OpenSea Ventures, VaynerFund, Brink's, Cherry Ventures, and a small group of angel investors. For better liquidity, the business has constructed cutting-edge blockchain technology that allows tangible items to be held and exchanged as non-fungible tokens (NFTs). The additional funds will fund product development, recruiting, and expansion within Courtyard's target market.){kind=link}