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PleasrDAO partners with Amber Group to deliver first fractionalised NFT on Tier 1 exchange

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PleasrDAO, a collective of DeFi leaders, early NFT collectors and digital artists has announced a partnership between Amber Group and the world’s most famous meme, The Doge NFT (fractionalized into DOG), to bring greater accessibility to the rapidly growing fractionalized NFT ecosystem.

As part of this project, Amber Group worked with The Doge NFT (DOG) as it launched on Huobi, the fifth largest crypto exchange in the world according to CoinGecko, on March 29. Amber Group is a leader in digital assets, products and infrastructure, working with companies ranging from crypto-native companies, banks and fintech firms, to sports teams, game developers, brands and creators.

The partnership aims to address a key challenge unique to the NFTs – the lack of accessibility. The expensive nature of NFTs presents challenges for fans, collectors, and potential community members who often lack the capital to participate in the NFT marketplace.

Amber Group’s relationships put it in a unique position to bring greater convenience into the NFT ecosystem, enabling the fractionalizing of NFTs. Through fractionalization, NFTs can be owned by multiple individuals, creating openness for a broader segment of crypto enthusiasts who would otherwise not be able to participate in the trading of NFTs.

One of the longest running DAOs out there

PleasrDAO turned one year old in March 2022 making it one of the longest running DAOs and was formed when its members purchased pplpleasr’s Uniswap V3 “x*y=k” animation for 310 ETH. The NFT depicts a pink unicorn making its way towards an Ethereum logo-cradling oasis. Foreshadowing at its finest?

Since then, PleasrDAO has collected other big-ticket items — all linked to what it describes as “culturally significant” ideas and causes. This includes the original Doge meme turned NFT from the owner of Kabuso in Japan and the one-of-a-kind unreleased Wu-Tang Clan album Once Upon a Time in Shaolin purchased from the US government.

PleasrDAO last raised an undisclosed sum from a16z from top crypto investors in December.

“NFTs are integral to the broader digital asset ecosystem, and greater accessibility to NFTs will undoubtedly accelerate the overall awareness and growth of the entire industry,” said Tiantian Kullander, co-founder of Amber Group. “We have every confidence that with this partnership, PleasrDAO will catalyze greater experimentation and innovation of digital art and communal ownership. We are looking forward to transforming the NFT ecosystem together.”

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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