RECUR is a company that designs & develops dedicated branded experiences that allow fans to buy, collect, and re-sell digital products and collectibles.
What's Next: A Conversation With RECUR, The Team Behind Nickelodeon NFTs
RECUR's first NFT drop Rugrats and Hey Arnold! drop proved successful, selling out extremely quickly. It minted on Recur with $1M volume, and 890 ETH volume ($1.42M) Opensea, making it the #1 collection in volume in 24 hours on Opensea.
With other partnerships already secured with some of the world’s leading media franchises and IP, such as Hello Kitty, Viacom, CBS, Care Bears, the future is extremely bright for the marketplace.
CEO Zach Bruch chatted with ONE37pm about the mission behind RECUR, what makes the platform different from others, and what to expect from the team after Nickelodeon.
ONE37pm: How did it feel seeing the Nickelodeon collection sell out so quickly?
Bruch: For us, what was more important was seeing the community reception. We have seen people who have never participated in crypto from tons of different countries get involved. It shows that NFTs have the power to onboard people into the ecosystem.
ONE37pm: Besides being eco-friendly, what makes RECUR from other marketplaces?
Bruch: At RECUR, we power web3 experiences for some of the world's most iconic brands. We asked ourselves, what do people want from NFTs? NFT collectors expect dynamic communities and increasing utility. Businesses want elegant experiences, seamless royalty reporting. For most brands or IPs who want to discover or learn about web3 for the first time, they have to piece together little vendors and widgets. For us, The whole concept is to make web3 simple. We want to onboard the next wave of millions.
ONE37pm: How are you making it simple?
Bruch: To help others enter the ecosystem in an authentic way. Fans can come to the site and purchase and engage in ways that they are already familiar with. They can withdraw that asset and take it anywhere they want. Our team has a history of delivering and building. Isn’t our first rodeo. We have immense experience working in crypto for over 5 years, that's a key differentiator. We also support those payments globally to 225 countries and have cash out in 85 countries.
ONE37pm: Can you explain how RECUR works cross-chain?
Bruch: RECUR NFT is minted on Polygon, but it can be withdrawn on the ETH.
Here are the specifics from the official website:
- RECUR operates a cross-chain swap in order to facilitate NFT withdrawals and deposits across chains. All NFTs are initially minted to Polygon. This initial mint occurs when the NFT is purchased via a primary sale.
- At this time, you have two options: withdraw on Polygon or withdraw on Ethereum.
- If you withdraw on Polygon, we simply send to the address specified by you - no swapping required.
- If you withdraw on Ethereum, we burn the NFT minted on Polygon, remint it on Ethereum, and then send to the address that you specified.
- When you are ready to deposit an Ethereum RECUR NFT back into RECUR, you will be prompted to call a burn function from within your wallet. This burns the NFT on Ethereum, and remints it on Polygon inside of RECUR’s own wallet.
ONE37pm: What can you share about the future of RECUR?
We can’t exactly reveal too much about the RECUR pass, but there will be a lot of early access for future drops and rewards for those holding our pass. At Recur, we are continuing to usher large brands and studios into the ecosystem. However, we are also opening our platform to enable creators of all sizes, so they can leverage the power of our technology and structure.
ONE37pm: Will you also be creating real-life experiences?
Bruch: I can’t say more than that, but yes.
The RECUR Pass is a collection of unique NFTs designed to give the early NFT community utility and special access to digital collectibles from the world’s most beloved brands.
Each generative RECUR Pass NFT grants early access and benefits to its holder within the RECUR ecosystem, across its brands & IP, throughout the metaverse, and beyond.
A new and exclusive Hello Kitty NFT collection is set to launch next month, on August 25th, on the RECUR platform, in partnership with Sanrio.
The ‘Hello Kitty and Friends’ collection will feature six beloved characters that can travel to eight cities around the world.